Stifel Nicolaus Boosts Meridian Mining UK Societas (CVE:MNO) Price Target to C$4.00

Meridian Mining UK Societas (CVE:MNO) had its target price hoisted by stock analysts at Stifel Nicolaus from C$3.25 to C$4.00 in a research note issued to investors on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 288.35% from the stock’s previous close.

Separately, Raymond James Financial raised their price target on Meridian Mining UK Societas from C$2.75 to C$3.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$3.50.

Meridian Mining UK Societas Price Performance

CVE MNO traded up C$0.09 during trading hours on Wednesday, reaching C$1.03. 247,282 shares of the company’s stock traded hands, compared to its average volume of 220,803. The firm has a 50-day simple moving average of C$1.03 and a 200 day simple moving average of C$1.03. Meridian Mining UK Societas has a 52-week low of C$0.37 and a 52-week high of C$1.34. The firm has a market cap of C$152.09 million and a PE 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. 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.