Meridian Mining UK Societas (TSE:MNO) Stock Price Down 5.7% – Should You Sell?

Meridian Mining UK Societas (TSE:MNO)’s stock price fell 5.7% on Wednesday . The stock traded as low as C$1.63 and last traded at C$1.64. 1,226,041 shares traded hands during trading, an increase of 58% from the average session volume of 775,942 shares. The stock had previously closed at C$1.74.

Analysts Set New Price Targets

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

Meridian Mining UK Societas Stock Down 5.7%

The company has a market capitalization of C$687.91 million, a P/E ratio of -27.33 and a beta of 1.44. The stock has a fifty day simple moving average of C$1.70 and a 200-day simple moving average of C$1.45.

Meridian Mining UK Societas Company Profile

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.