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

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. Approximately 247,282 shares traded 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 Analyst Weigh In

Separately, Stifel Nicolaus upped their price target on shares of Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the stock a “buy” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$3.25.

Meridian Mining UK Societas Stock Performance

The company has a market cap of C$152.09 million and a PE ratio of -3.30. The firm’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.