Meridian Mining UK Societas (CVE:MNO) Trading Up 9.6% – What’s Next?

Meridian Mining UK Societas (CVE:MNO) shares shot up 9.6% during trading on Monday . 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.

Wall Street Analysts Forecast Growth

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

Meridian Mining UK Societas Price Performance

The firm’s 50 day moving average is C$1.03 and its 200 day moving average is C$1.03. The company has a market capitalization of C$152.09 million and a PE ratio of -3.30.

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.