Short Interest in Meridian Mining UK Societas (OTCMKTS:MRRDF) Expands By 62.4%

Meridian Mining UK Societas (OTCMKTS:MRRDF) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 587,515 shares, an increase of 62.4% from the April 30th total of 361,725 shares. Based on an average daily volume of 32,226 shares, the short-interest ratio is presently 18.2 days.

Meridian Mining UK Societas Price Performance

Meridian Mining UK Societas stock remained flat at C$1.38 during mid-day trading on Wednesday. The company’s stock had a trading volume of 1,614 shares, compared to its average volume of 48,900. The firm’s 50 day simple moving average is C$1.31 and its two-hundred day simple moving average is C$1.23. Meridian Mining UK Societas has a 12-month low of C$0.54 and a 12-month high of C$1.56.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets began coverage on Meridian Mining UK Societas in a research note on Thursday, April 23rd. They set an “outperform” rating on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently 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.