Meridian Mining UK Societas (CVE:MNO) Shares Climb 9.6% – Should You Buy?

Meridian Mining UK Societas (CVE:MNO)’s stock price traded up 9.6% during 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.

Analyst Upgrades and Downgrades

MNO has been the subject of a number of research reports. Raymond James Financial increased their price target on Meridian Mining UK Societas from C$2.75 to C$3.00 and gave the company an “outperform” rating in a research note on Wednesday, September 23rd. Stifel Nicolaus lifted their price target on Meridian Mining UK Societas from C$3.25 to C$4.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, Meridian Mining UK Societas presently has a consensus rating of “Buy” and a consensus price target of C$3.50.

Meridian Mining UK Societas Stock Up 9.6%

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

Meridian Mining UK Societas Company Profile

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.