Midnight Sun Mining (CVE:MMA) Trading Down 4.5% – Here’s What Happened

Midnight Sun Mining Corp. (CVE:MMA)’s stock price traded down 4.5% during trading on Wednesday . The stock traded as low as C$0.63 and last traded at C$0.63. 182,515 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 495,675 shares. The stock had previously closed at C$0.66.

Midnight Sun Mining Stock Performance

The stock has a 50-day moving average of C$0.66 and a 200 day moving average of C$1.00. The stock has a market cap of C$135.82 million, a PE ratio of -4.85 and a beta of 2.45. The company has a quick ratio of 3.91, a current ratio of 13.58 and a debt-to-equity ratio of 0.58.

Insider Activity

In related news, insider Brett Allan Richards purchased 135,300 shares of Midnight Sun Mining stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average price of C$0.57 per share, for a total transaction of C$77,121.00. Following the acquisition, the insider directly owned 5,758,747 shares in the company, valued at approximately C$3,282,485.79. The trade was a 2.41% increase in their ownership of the stock. Over the last three months, insiders acquired 537,203 shares of company stock valued at $353,715. 5.98% of the stock is owned by company insiders.

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.