Meridian Mining UK Societas (TSE:MNO) Trading Down 2.6% – Should You Sell?

Meridian Mining UK Societas (TSE:MNO)’s stock price dropped 2.6% during mid-day trading on Friday . The company traded as low as C$1.50 and last traded at C$1.50. Approximately 228,262 shares traded 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.

Wall Street Analysts Forecast Growth

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

Meridian Mining UK Societas Stock Down 2.6%

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 has a fifty day simple moving average of C$1.49 and a two-hundred day simple moving average of 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.