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

Meridian Mining UK Societas (CVE:MNO) shot up 9.6% during mid-day trading on Wednesday . The stock traded as high as C$1.07 and last traded at C$1.03. 247,282 shares traded hands during 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 downgraded Meridian Mining UK Societas from a “strong-buy” rating to an “outperform” rating and set a C$1.50 price objective on the stock. in a report on Monday, September 23rd.

Meridian Mining UK Societas Stock Up 9.6 %

The stock has a market cap of C$152.09 million and a P/E ratio of -3.30. The company has a 50-day simple moving average of C$1.03 and a two-hundred day simple moving average 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.