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

Meridian Mining UK Societas (CVE:MNO)’s share price shot up 9.6% during trading on Wednesday . The company traded as high as C$1.07 and last traded at C$1.03. 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.

Analysts Set New Price Targets

Separately, Raymond James lowered shares of Meridian Mining UK Societas from a “strong-buy” rating to an “outperform” rating and set a C$1.50 target price on the stock. in a report on Monday, September 23rd.

Meridian Mining UK Societas Stock Performance

The firm has a 50 day moving average price of C$1.03 and a two-hundred day moving average price of C$1.03. The company has a market cap of C$152.09 million and a P/E ratio of -3.30.

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.