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Analysts at Morningstar raised their price target on shares of Mermaid Marine Australia Limited (ASX:MRM) to $3.19 in a research report issued to clients and investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “reduce” rating on the stock.

Shares of Mermaid Marine Australia Limited (ASX:MRM) traded down 1.02% during mid-day trading on Thursday, hitting A$2.920. 468,495 shares of the company’s stock traded hands. Mermaid Marine Australia Limited has a 52-week low of A$2.930 and a 52-week high of A$4.270. The stock’s 50-day moving average is A$3.17 and its 200-day moving average is A$3.58. The company has a market cap of A$674.3 million and a price-to-earnings ratio of 11.13.

Mermaid Marine Australia Limited (ASX:MRM) is engaged in the provision of marine logistics and supply base services throughout all phases of the oil and gas development cycle.

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