Meridian Mining UK Societas (CVE:MNO) Stock Price Up 9.6% – Still a Buy?

Meridian Mining UK Societas (CVE:MNO)’s stock price traded up 9.6% during mid-day trading on Wednesday . The company traded as high as C$1.07 and last traded at C$1.03. 247,282 shares were traded 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.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price objective on Meridian Mining UK Societas from C$2.50 to C$3.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Meridian Mining UK Societas has a consensus rating of “Buy” and an average price target of C$3.00.

Meridian Mining UK Societas Stock Performance

The company has a market cap of C$152.09 million and a P/E ratio of -3.30. 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.

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.