Midnight Sun Mining (CVE:MMA) Shares Up 5% – Here’s What Happened

Midnight Sun Mining Corp. (CVE:MMA) shares shot up 5% during mid-day trading on Friday . The company traded as high as C$1.75 and last traded at C$1.68. 931,576 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 556,515 shares. The stock had previously closed at C$1.60.

Analysts Set New Price Targets

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

Midnight Sun Mining Trading Up 5.0%

The firm has a market cap of C$359.08 million, a price-to-earnings ratio of -42.00 and a beta of 2.09. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.91 and a current ratio of 45.60. The company has a 50 day moving average price of C$1.36 and a 200 day moving average price of C$1.10.

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.