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

Meridian Mining UK Societas (CVE:MNO)’s stock price shot up 9.6% during mid-day trading on Thursday . The company traded as high as C$1.07 and last traded at C$1.03. 247,282 shares changed 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 shares of 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 research note on Monday, September 23rd.

Meridian Mining UK Societas Stock Up 9.6 %

The company’s 50-day moving average is C$1.03 and its 200 day moving average is C$1.03. The company has a market cap of C$152.09 million and a price-to-earnings 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.