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

Meridian Mining UK Societas (CVE:MNO) shares were up 9.6% on Wednesday . The company traded as high as C$1.07 and last traded at C$1.03. Approximately 247,282 shares changed hands during trading, an increase of 12% from the average daily volume of 220,803 shares. The stock had previously closed at C$0.94.

Meridian Mining UK Societas Trading Up 9.6%

The company has a market capitalization of C$152.09 million and a price-to-earnings ratio of -3.30. The firm’s 50 day moving average price is C$1.03 and its two-hundred day moving average price is 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.