Midnight Sun Mining (CVE:MMA) Sets New 12-Month Low – Time to Sell?

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

Midnight Sun Mining Stock Down 1.9%

The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.91 and a current ratio of 11.09. The company has a market cap of C$115.31 million, a P/E ratio of -3.53 and a beta of 3.01. The firm’s 50 day moving average price is C$0.65 and its two-hundred day moving average price is C$0.87.

Insider Buying and Selling

In other news, insider Brett Allan Richards purchased 135,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average cost of C$0.57 per share, with a total value of C$77,121.00. Following the purchase, the insider owned 5,758,747 shares in the company, valued at C$3,282,485.79. This represents a 2.41% increase in their ownership of the stock. Over the last three months, insiders bought 384,600 shares of company stock valued at $221,715. 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.