Meridian Mining UK Societas (CVE:MNO) Trading 9.6% Higher – Time to Buy?

Meridian Mining UK Societas (CVE:MNO) shares rose 9.6% during mid-day trading on Thursday . The stock traded as high as C$1.07 and last traded at C$1.03. Approximately 247,282 shares were traded during trading, an increase of 12% from the average daily volume of 220,803 shares. The stock had previously closed at C$0.94.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded Meridian Mining UK Societas from a “strong-buy” rating to an “outperform” rating and set a C$1.50 price objective on the stock. in a research note on Monday, September 23rd.

Meridian Mining UK Societas Trading Up 9.6 %

The stock has a market cap of C$152.09 million and a P/E ratio of -3.30. The firm’s fifty day moving average is C$1.03 and its 200 day moving average is C$1.03.

About Meridian Mining UK Societas

Meridian Mining UK Societas, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. The company explores for manganese, gold, copper, and tin deposits. It holds interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia.