Meridian Mining UK Societas (TSE:MNO) Stock Price Down 2.4% – Time to Sell?

Meridian Mining UK Societas (TSE:MNO)’s stock price dropped 2.4% during mid-day trading on Friday . The stock traded as low as C$1.56 and last traded at C$1.61. Approximately 332,136 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 578,208 shares. The stock had previously closed at C$1.65.

Analyst Ratings Changes

Separately, BMO Capital Markets upgraded Meridian Mining UK Societas to a “strong-buy” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Meridian Mining UK Societas Price Performance

The firm has a fifty day moving average of C$1.80 and a two-hundred day moving average of C$1.72. The stock has a market capitalization of C$781.68 million, a P/E ratio of -26.83 and a beta of 1.81.

Meridian Mining UK Societas (TSE:MNO) last issued 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.