Meridian Mining UK Societas (CVE:MNO) Shares Up 9.6% – Time to Buy?

Meridian Mining UK Societas (CVE:MNO) shot up 9.6% during mid-day trading on Tuesday . The company traded as high as C$1.07 and last traded at C$1.03. 247,282 shares traded hands 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.

Meridian Mining UK Societas Stock Up 9.6%

The stock has a fifty day simple moving average of C$1.03 and a 200 day simple moving average of C$1.03. The firm has a market capitalization of C$152.09 million and a P/E ratio of -3.30.

About Meridian Mining UK Societas

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.