Meridian Mining UK Societas (TSE:MNO) Trading Up 2.4% - Here's What Happened

Key Points

• Shares rose 2.4% as Meridian Mining (TSE:MNO) traded up to C$1.76 intraday and last at C$1.73, but volume was only ~151,741 shares, about 79% below its average daily volume.
• Scotiabank upgraded the stock to a "strong-buy," and MarketBeat shows a consensus rating of Strong Buy based on two analysts.
• Meridian is focused on developing the Cabacal VMS gold‑copper project and regional exploration in Mato Grosso, Brazil, and currently trades with a market cap of C$725.7M and a negative PE (-34.6), typical of exploration‑stage miners.

Meridian Mining UK Societas (TSE:MNO - Get Free Report)'s share price was up 2.4% during trading on Thursday . The stock traded as high as C$1.76 and last traded at C$1.73. Approximately 151,741 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 731,653 shares. The stock had previously closed at C$1.69.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised Meridian Mining UK Societas to a "strong-buy" rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy".

Meridian Mining UK Societas Trading Up 2.4%

The stock has a market cap of C$725.66 million, a PE ratio of -34.60 and a beta of 1.81. The company has a fifty day moving average of C$1.73 and a 200-day moving average of C$1.52.

About Meridian Mining UK Societas

Meridian Mining is focused on: The development and exploration of the advanced stage Cabacal VMS gold-copper project, The initial resource definition at the second higher-grade VMS asset at Santa Helena as the first stage of the Cabacal Hub development strategy, Regional scale exploration of the Cabacal VMS belt to expand the Cabacal Hub strategy, and Exploration in the Jauru & Araputanga Greenstone belts the above all located in the State of Mato Grosso, Brazil.

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