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

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

Analyst Ratings Changes

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 on the stock. in a research note on Monday, September 23rd.

Meridian Mining UK Societas Stock Performance

The firm has a market capitalization of C$152.09 million and a price-to-earnings ratio of -3.30. The company has a 50-day moving average price of C$1.03 and a 200-day moving average price of 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.