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

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

Analyst Upgrades and Downgrades

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

Meridian Mining UK Societas Price Performance

The company has a market capitalization of C$152.09 million and a price-to-earnings ratio of -3.30. The firm has a 50-day moving average price of C$1.03 and a two-hundred day moving average price of C$1.03.

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.