Meridian Mining UK Societas (OTCMKTS:MRRDF) Sees Significant Decrease in Short Interest

Meridian Mining UK Societas (OTCMKTS:MRRDF) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 308,441 shares, a decrease of 54.1% from the May 31st total of 671,731 shares. Based on an average trading volume of 35,842 shares, the days-to-cover ratio is currently 8.6 days.

Meridian Mining UK Societas Stock Performance

OTCMKTS:MRRDF opened at C$1.16 on Monday. The business has a 50 day moving average of C$1.32 and a 200 day moving average of C$1.25. Meridian Mining UK Societas has a 1-year low of C$0.54 and a 1-year high of C$1.56.

Analyst Ratings Changes

Separately, BMO Capital Markets initiated coverage on Meridian Mining UK Societas in a research report on Thursday, April 23rd. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.