Meridian Mining UK Societas (TSE:MNO) Stock Price Down 2.6% – Here’s What Happened

Meridian Mining UK Societas (TSE:MNO)’s stock price was down 2.6% on Friday . The company traded as low as C$1.50 and last traded at C$1.50. Approximately 228,262 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 340,809 shares. The stock had previously closed at C$1.54.

Wall Street Analyst Weigh In

Separately, Scotiabank raised shares of Meridian Mining UK Societas to a “strong-buy” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Meridian Mining UK Societas Stock Performance

The stock has a 50-day simple moving average of C$1.49 and a 200 day simple moving average of C$1.14. The stock has a market capitalization of C$629.19 million, a P/E ratio of -25.00 and a beta of 1.41.

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.