Midnight Sun Mining (CVE:MMA) Hits New 12-Month Low – Here’s Why

Midnight Sun Mining Corp. (CVE:MMA)’s stock price reached a new 52-week low on Monday. The stock traded as low as C$0.52 and last traded at C$0.54, with a volume of 482733 shares changing hands. The stock had previously closed at C$0.56.

Midnight Sun Mining Price Performance

The company has a quick ratio of 3.91, a current ratio of 11.09 and a debt-to-equity ratio of 0.67. The company has a market capitalization of C$115.31 million, a PE ratio of -3.53 and a beta of 3.01. The firm’s 50 day simple moving average is C$0.65 and its 200 day simple moving average is C$0.88.

Insider Buying and Selling

In other news, insider Brett Allan Richards acquired 192,000 shares of Midnight Sun Mining stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average cost of C$0.58 per share, with a total value of C$111,360.00. Following the transaction, the insider directly owned 5,623,447 shares of the company’s stock, valued at C$3,261,599.26. This trade represents a 3.53% increase in their position. In the last 90 days, insiders have bought 384,600 shares of company stock worth $221,715. Corporate insiders own 5.98% of the company’s stock.

About Midnight Sun Mining

Midnight Sun Mining Corp. engages in the acquisition and exploration of mineral properties in Africa. The company primarily explores for copper, cobalt, nickel, and gold deposits. It owns a 60% interest in the Solwezi licenses located in Zambia. The company was formerly known as Midnight Sun Capital Corporation and changed its name to Midnight Sun Mining Corp. in February 2011. Midnight Sun Mining Corp. was incorporated in 2007 and is headquartered in Vancouver, Canada.