Meridian Mining UK Societas (OTCMKTS:MRRDF) Sees Large Decrease in Short Interest

Meridian Mining UK Societas (OTCMKTS:MRRDF) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 308,441 shares, a drop of 54.1% from the May 31st total of 671,731 shares. Based on an average daily volume of 35,842 shares, the short-interest ratio is currently 8.6 days.

Meridian Mining UK Societas Stock Performance

MRRDF remained flat at C$1.13 during trading on Tuesday. The company’s stock had a trading volume of 35,900 shares, compared to its average volume of 46,511. The company’s 50 day moving average price is C$1.31 and its 200 day moving average price is C$1.25. Meridian Mining UK Societas has a 52-week low of C$0.54 and a 52-week high of C$1.56.

Analyst Ratings Changes

Separately, BMO Capital Markets began coverage on shares of Meridian Mining UK Societas in a research note on Thursday, April 23rd. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

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. It explores for manganese, gold, copper, and tin deposits. The company holds a 100% interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia. It also has an option to acquire a 100% interest in the Cabaçal copper-gold project located in the state of Mato Grosso; and the Mirante da Serra project located in Rondônia.