Meridian Mining UK Societas (CVE:MNO) Shares Up 9.6% – Here’s Why

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

Analysts Set New Price Targets

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

Meridian Mining UK Societas Stock Up 9.6 %

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

Meridian Mining UK Societas Company Profile

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.