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

Meridian Mining UK Societas (CVE:MNO) traded up 9.6% during trading on Wednesday. The company traded as high as C$1.07 and last traded at C$1.03. Approximately 247,282 shares were traded 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.

Wall Street Analysts Forecast Growth

MNO has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Meridian Mining UK Societas from C$3.25 to C$4.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Raymond James Financial lifted their price objective on shares of Meridian Mining UK Societas from C$2.75 to C$3.00 and gave the company an “outperform” rating in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$3.50.

Meridian Mining UK Societas Price Performance

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