Meridian Mining UK Societas (TSE:MNO) Stock Price Up 4.9% - Time to Buy?

Key Points

• Meridian Mining UK Societas shares rose 4.9%, closing at C$1.07 after trading as high as C$1.08, with a significant increase in trading volume.
• Analyst ratings have improved, with Stifel Canada upgrading the stock to a "strong-buy" rating, contributing to a current consensus of "Strong Buy" among analysts.
• The company, which has a market capitalization of C$445.45 million, is involved in mining activities in Brazil and focuses on several key projects, including the Espigao manganese project.

Meridian Mining UK Societas (TSE:MNO - Get Free Report)'s stock price traded up 4.9% during mid-day trading on Monday . The stock traded as high as C$1.08 and last traded at C$1.07. 416,204 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 344,645 shares. The stock had previously closed at C$1.02.

Analyst Upgrades and Downgrades

Separately, Stifel Canada raised Meridian Mining UK Societas to a "strong-buy" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of "Strong Buy".

Meridian Mining UK Societas Trading Up 2.7%

The stock has a market capitalization of C$482.91 million, a P/E ratio of -19.33 and a beta of 0.77. The stock has a 50 day moving average of C$0.86 and a 200-day moving average of C$0.75.

About Meridian Mining UK Societas

Meridian Mining UK Societas along with its subsidiaries engages in the acquisition, exploration, development, and mining activities in Brazil. It focuses on exploring and developing the Espigao manganese project, the Ariquemes tin JV area, and adjacent areas in the state of Rondonia. It also undertakes the Cabacal Project, Mato Grosso.