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

Meridian Mining UK Societas (CVE:MNO) rose 9.6% during mid-day trading on Monday . 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.

Analysts Set New Price Targets

Separately, Raymond James cut 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 Up 9.6 %

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

Meridian Mining UK Societas Company Profile

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.