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

Meridian Mining UK Societas (CVE:MNO)’s stock price shot up 9.6% during mid-day trading on Friday . 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 session volume of 220,803 shares. The stock had previously closed at C$0.94.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price objective on shares of Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the company 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 MarketBeat, Meridian Mining UK Societas has a consensus rating of “Buy” and an average target price of C$3.25.

Meridian Mining UK Societas Price Performance

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

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. 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.