Meridian Mining UK Societas (CVE:MNO) Stock Price Up 9.6% – Here’s What Happened

Meridian Mining UK Societas (CVE:MNO) traded up 9.6% during mid-day trading on Thursday . The stock traded as high as C$1.07 and last traded at C$1.03. 247,282 shares changed hands during 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 raised their target price on Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the company a “buy” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Meridian Mining UK Societas has an average rating of “Buy” and an average target price of C$3.25.

Meridian Mining UK Societas Trading Up 9.6%

The stock has a market cap of C$152.09 million and a P/E ratio of -3.30. The stock’s 50-day moving average is C$1.03 and its 200-day moving average 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.