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

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

Analyst Upgrades and Downgrades

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

Meridian Mining UK Societas Price Performance

The company has a market cap of C$629.19 million, a P/E ratio of -25.00 and a beta of 1.41. The business’s 50 day moving average price is C$1.49 and its 200-day moving average price is C$1.14.

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.