Meridian Mining UK Societas (CVE:MNO) Shares Up 9.6% – Should You Buy?

Meridian Mining UK Societas (CVE:MNO) shares were up 9.6% during trading on Thursday . The stock traded as high as C$1.07 and last traded at C$1.03. Approximately 247,282 shares were traded 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.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price objective on Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the stock a “buy” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Meridian Mining UK Societas has an average rating of “Buy” and an average target price of C$3.25.

Meridian Mining UK Societas Stock Performance

The firm has a market cap of C$152.09 million and a P/E ratio of -3.30. The firm has a fifty day moving average of C$1.03 and a 200-day 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. The company 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.