Midnight Sun Mining (CVE:MMA) Shares Up 6.6% – What’s Next?

Midnight Sun Mining Corp. (CVE:MMA) shares shot up 6.6% during mid-day trading on Friday . The stock traded as high as C$1.21 and last traded at C$1.21. 295,205 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 543,573 shares. The stock had previously closed at C$1.14.

Analysts Set New Price Targets

Separately, Haywood Securities set a C$3.00 price objective on shares of Midnight Sun Mining and gave the company a “buy” rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Midnight Sun Mining currently has an average rating of “Buy” and a consensus target price of C$3.00.

Midnight Sun Mining Trading Up 6.6%

The company has a debt-to-equity ratio of 1.69, a current ratio of 45.60 and a quick ratio of 3.91. The firm has a fifty day simple moving average of C$1.41 and a 200-day simple moving average of C$1.27. The firm has a market cap of C$258.63 million, a P/E ratio of -30.25 and a beta of 2.33.

Midnight Sun Mining Company Profile

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.