Meridian Mining UK Societas (CVE:MNO) Downgraded by Raymond James to “Outperform”

Meridian Mining UK Societas (CVE:MNO) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a report issued on Monday, BayStreet.CA reports. They presently have a C$1.50 target price on the stock. Raymond James’ price target would indicate a potential upside of 45.63% from the company’s current price.

Meridian Mining UK Societas Trading Up 9.6 %

CVE:MNO traded up C$0.09 during trading hours on Monday, hitting C$1.03. 247,282 shares of the stock were exchanged, compared to its average volume of 220,803. The company has a market cap of C$152.09 million and a P/E ratio of -3.30. The firm’s fifty day moving average price is C$1.03 and its 200 day moving average price is 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.

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.