Midnight Sun Mining Corp (TSE:MMA)
:MMA
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Midnight Sun Mining
(MMA)
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Rating:44Neutral
Price Target:
C$0.91
▼(-14.77% Downside)
Action:Reiterated
Date:05/30/26
The score is constrained primarily by weak financial performance (no revenue, rapidly worsening losses, and accelerating cash burn), with technicals also bearish given the downtrend and negative momentum. Valuation support is limited because losses produce a negative P/E and there is no dividend yield.
Positive Factors
Low Leverage / Light Debt
Very low absolute debt materially reduces near-term refinancing and solvency risk, giving management flexibility to prioritize exploration spend or structure joint ventures. This durable capital-structure strength preserves optionality during multi-quarter drilling and permitting cycles.
Negative Factors
No Revenue and Widening Losses
Persistent zero revenue combined with rapidly widening net losses erodes shareholder equity and credibility with investors. Over a multi-month horizon this trend increases the likelihood of dilutive financings, reduces flexibility to scale exploration, and raises the bar for any near-term value-creating asset sale.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Light Debt
Very low absolute debt materially reduces near-term refinancing and solvency risk, giving management flexibility to prioritize exploration spend or structure joint ventures. This durable capital-structure strength preserves optionality during multi-quarter drilling and permitting cycles.
Read all positive factors
Midnight Sun Mining (MMA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$202.65M
Dividend YieldN/A
Average Volume (3M)653.32K
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue GrowthN/A
EPS Growth-425.54%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.12
Shares Outstanding215,588,240
10 Day Avg. Volume820,874
30 Day Avg. Volume653,322
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)5.76
Price to Sales (P/S)0.00
P/FCF Ratio-19.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.00Price Target Upside180.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Midnight Sun Mining Business Overview & Revenue Model
Company Description
Midnight Sun Mining Corp. engages in the acquisition and exploration of mineral properties in Africa. The company primarily explores for copper, cobalt, and gold deposits. It has 60% interest in the Solwezi licenses covering an area of approximate...
How the Company Makes Money
Midnight Sun Mining does not typically generate recurring revenue from selling products or services because it operates primarily as an exploration-stage mining company. Its funding is generally sourced from capital markets (e.g., issuing equity/u...
Midnight Sun Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
70
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -111.96K | -98.22K | -78.33K | -37.39K | -25.63K | -23.76K |
| EBITDA | -25.18M | -14.42M | -3.24M | -1.15M | -3.15M | -1.90M |
| Net Income | -24.31M | -14.23M | -3.35M | -1.54M | -3.18M | -2.04M |
Balance Sheet | ||||||
| Total Assets | 41.73M | 45.60M | 21.99M | 13.96M | 10.69M | 20.78M |
| Cash, Cash Equivalents and Short-Term Investments | 26.19M | 30.99M | 7.82M | 23.88K | 40.48K | 2.56M |
| Total Debt | 218.55K | 240.33K | 314.68K | 539.27K | 58.43K | 82.61K |
| Total Liabilities | 2.12M | 678.98K | 456.49K | 731.14K | 518.66K | 230.01K |
| Stockholders Equity | 37.58M | 42.88M | 19.50M | 11.19M | 4.62M | 14.65M |
Cash Flow | ||||||
| Free Cash Flow | -17.23M | -12.84M | -2.90M | -1.62M | -2.24M | -1.01M |
| Operating Cash Flow | -16.97M | -12.62M | -2.90M | -1.62M | -2.24M | -869.15K |
| Investing Cash Flow | 2.33M | 2.37M | -2.37M | 470.55K | -263.88K | -133.14K |
| Financing Cash Flow | 34.11M | 35.93M | 10.56M | 1.14M | -23.29K | 2.51M |
Midnight Sun Mining Technical Analysis
Negative
1.07
Price Trends
1.18
Negative
1.27
Negative
1.26
Negative
Market Momentum
-0.07
Positive
36.01
Neutral
26.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MMA, the sentiment is Negative. The current price of 1.07 is below the 20-day moving average (MA) of 1.10, below the 50-day MA of 1.18, and below the 200-day MA of 1.26, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 36.01 is Neutral, neither overbought nor oversold. The STOCH value of 26.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MMA.
Midnight Sun Mining Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | C$321.40M | -16.67 | -174.98% | ― | 8.44% | -234.26% | |
45 Neutral | C$765.18M | -12.62 | -21.92% | ― | ― | -545.85% | |
44 Neutral | C$202.65M | -13.18 | -53.80% | ― | ― | -425.54% | |
44 Neutral | C$173.49M | -7.24 | -42.23% | ― | ― | -234.46% | |
42 Neutral | C$227.58M | -327.52 | 166.87% | ― | ― | 81.87% | |
40 Underperform | C$214.90M | -7.66 | ― | ― | ― | -18.10% |
* General Sector Average
TSE:MMA
Midnight Sun Mining
0.94
0.34
56.67%
TSE:AHR
Amarc Resources
1.01
0.38
60.32%
TSE:TI
Titan Mining Corporation
3.27
2.39
269.49%
TSE:MOON
Blue Moon Metals
10.70
7.64
249.67%
TSE:SFR
Sandfire Resources America
0.21
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-29.53%
TSE:TDG
TDG Gold
0.62
-0.04
-6.06%
Midnight Sun Mining Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Midnight Sun Files NI 43-101 Technical Report for Kazhiba Main Copper Project in Zambia
Positive
Mar 10, 2026
Midnight Sun Mining has filed a National Instrument 43-101 compliant technical report for its Kazhiba Main copper oxide project in Solwezi, Zambia, prepared by DMT Kai Batla PTY Ltd. and now available on SEDAR+ and the company’s website. The...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.