Meridian Mining UK Societas (OTCMKTS:MRRDF) Shares Down 7.8% – Here’s What Happened

Meridian Mining UK Societas (OTCMKTS:MRRDF)’s share price dropped 7.8% during mid-day trading on Thursday . The company traded as low as C$1.17 and last traded at C$1.17. Approximately 92,886 shares traded hands during trading, an increase of 62% from the average daily volume of 57,208 shares. The stock had previously closed at C$1.27.

Wall Street Analysts Forecast Growth

MRRDF has been the topic of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Meridian Mining UK Societas in a report on Monday, January 26th. Raymond James Financial reaffirmed an “outperform” rating on shares of Meridian Mining UK Societas in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Meridian Mining UK Societas Stock Up 1.5%

The stock has a 50 day moving average price of C$1.15 and a 200 day moving average price of C$0.90.

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. It explores for manganese, gold, copper, and tin deposits. The company holds a 100% interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia. It 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.