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Midnight Sun Mining
(MMA)
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Rating:48Neutral
Price Target:
C$0.62
▼(-16.80% Downside)
Action:Reiterated
Date:08/22/26
The score is primarily constrained by weak financial performance (pre-revenue, widening losses and accelerating cash burn), which elevates ongoing funding/dilution risk despite low leverage. Technicals provide only partial support with improving short-term momentum but a still-negative longer-term trend. Valuation is not supportive because losses make P/E less informative and no dividend yield is available.
Positive Factors
Very Low Leverage
Very low debt relative to equity limits interest and refinancing pressure, giving the company more flexibility than a highly levered explorer. This financial structure can help preserve strategic options during exploration and reduce the severity of near-term solvency risk.
Negative Factors
Pre-Revenue Business Model
The absence of operating revenue means the company has not yet demonstrated a self-funding commercial model. Until exploration assets produce a transaction, resource development outcome, or operating income, corporate activities remain dependent on capital availability.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Very low debt relative to equity limits interest and refinancing pressure, giving the company more flexibility than a highly levered explorer. This financial structure can help preserve strategic options during exploration and reduce the severity of near-term solvency risk.
Read all positive factors
Midnight Sun Mining (MMA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$139.25M
Dividend YieldN/A
Average Volume (3M)200.65K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue GrowthN/A
EPS Growth-358.10%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.14
Shares Outstanding217,574,600
10 Day Avg. Volume256,224
30 Day Avg. Volume200,653
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Midnight Sun Mining Business Overview & Revenue Model
Company Description
Midnight Sun Mining Corp. operates as a company dedicated to identifying and developing mineral properties throughout the African continent. Its primary focus is on discovering deposits rich in copper, cobalt, and gold. A key asset for the firm is...
How the Company Makes Money
Midnight Sun Mining does not typically generate recurring operating revenue because it is primarily an exploration-stage company. null...
Midnight Sun Mining Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | 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 | -129.14K | -98.22K | -78.33K | -37.39K | -25.63K | -23.76K |
| EBITDA | -30.05M | -14.11M | -3.24M | -1.15M | -3.15M | -1.90M |
| Net Income | -29.96M | -14.23M | -3.35M | -1.54M | -3.18M | -2.04M |
Balance Sheet | ||||||
| Total Assets | 33.53M | 45.60M | 21.99M | 13.96M | 10.69M | 20.78M |
| Cash, Cash Equivalents and Short-Term Investments | 18.21M | 30.99M | 7.82M | 23.88K | 40.48K | 2.56M |
| Total Debt | 199.41K | 240.33K | 314.68K | 539.27K | 58.43K | 82.61K |
| Total Liabilities | 1.81M | 678.98K | 456.49K | 731.14K | 518.66K | 230.01K |
| Stockholders Equity | 29.69M | 42.88M | 19.50M | 11.19M | 4.62M | 14.65M |
Cash Flow | ||||||
| Free Cash Flow | -24.48M | -12.84M | -2.90M | -1.62M | -2.24M | -1.01M |
| Operating Cash Flow | -24.22M | -12.62M | -2.90M | -1.62M | -2.24M | -869.15K |
| Investing Cash Flow | 2.79M | 2.37M | -2.37M | 470.55K | -263.88K | -133.14K |
| Financing Cash Flow | 33.25M | 35.93M | 10.56M | 1.14M | -23.29K | 2.51M |
Midnight Sun Mining Technical Analysis
Negative
0.75
Price Trends
0.65
Negative
0.81
Negative
1.07
Negative
Market Momentum
>-0.01
Positive
42.44
Neutral
2.56
Positive
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 0.75 is above the 20-day moving average (MA) of 0.69, above the 50-day MA of 0.65, and below the 200-day MA of 1.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.44 is Neutral, neither overbought nor oversold. The STOCH value of 2.56 is Positive, 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% | |
52 Neutral | C$230.08M | 177.19 | 709.14% | ― | ― | ― | |
50 Neutral | C$408.79M | -29.94 | -67.15% | 19.75% | 17.54% | -211.92% | |
48 Neutral | C$139.25M | -4.37 | -91.69% | ― | ― | -358.10% | |
48 Neutral | C$630.64M | -6.43 | -34.06% | ― | ― | -384.69% | |
43 Neutral | C$240.49M | -8.94 | 56.76% | ― | ― | -18.10% | |
42 Neutral | C$133.47M | -4.75 | -44.11% | 72.33% | ― | -309.60% |
* General Sector Average
TSE:MMA
Midnight Sun Mining
0.63
-0.46
-42.20%
TSE:AHR
Amarc Resources
1.01
-0.10
-9.01%
TSE:TI
Titan Mining Corporation
4.04
1.87
85.75%
TSE:MOON
Blue Moon Metals
7.59
4.34
133.54%
TSE:SFR
Sandfire Resources America
0.24
-0.06
-20.34%
TSE:TDG
TDG Gold
0.47
-0.88
-65.30%
Midnight Sun Mining Corporate Events
Business Operations and Strategy
Midnight Sun Moves to Targeted Phase Two Exploration at Dumbwa Copper Project
Positive
Sep 2, 2026
Midnight Sun Mining has launched Phase Two of its exploration program at the wholly owned Dumbwa copper deposit in Zambia, shifting from broad systematic evaluation to a highly targeted strategy. The new phase aims to identify and expand higher-gr...
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.