Meridian Mining UK Societas (TSE:MNO) Trading Down 1.2% – Here’s What Happened

Meridian Mining UK Societas (TSE:MNO)’s share price traded down 1.2% on Friday . The company traded as low as C$1.66 and last traded at C$1.67. 233,081 shares were traded during trading, a decline of 62% from the average session volume of 614,189 shares. The stock had previously closed at C$1.69.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MNO. BMO Capital Markets upgraded shares of Meridian Mining UK Societas to a “strong-buy” rating in a report on Thursday, April 23rd. Scotiabank upgraded shares of Meridian Mining UK Societas to a “strong-buy” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Meridian Mining UK Societas Price Performance

The firm’s 50-day moving average is C$1.83 and its 200-day moving average is C$1.71. The company has a market capitalization of C$810.81 million, a P/E ratio of -27.83 and a beta of 1.70.

Meridian Mining UK Societas (TSE:MNO) last announced its earnings results on Wednesday, May 13th. The company reported C($0.03) earnings per share (EPS) for the quarter.

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.