Meridian Mining UK Societas (TSE:MNO) Shares Down 5.7% – Here’s Why

Meridian Mining UK Societas (TSE:MNO) shares 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 changed hands during mid-day trading, an increase of 58% from the average session volume of 775,942 shares. The stock had previously closed at C$1.74.

Analyst Ratings Changes

Separately, Scotiabank upgraded 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, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Meridian Mining UK Societas Stock Performance

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 company has a 50-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.