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

Meridian Mining UK Societas (CVE:MNO) rose 9.6% during mid-day trading on Thursday . The company traded as high as C$1.07 and last traded at C$1.03. Approximately 247,282 shares were traded during trading, an increase of 12% from the average daily volume of 220,803 shares. The stock had previously closed at C$0.94.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their price objective on Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the stock a “buy” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$3.25.

Meridian Mining UK Societas Stock Performance

The company’s 50 day moving average price is C$1.03 and its 200-day moving average price is C$1.03. The company has a market cap of C$152.09 million and a price-to-earnings ratio of -3.30.

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.