Raymond James Financial Issues Positive Forecast for Meridian Mining UK Societas (CVE:MNO) Stock Price

Meridian Mining UK Societas (CVE:MNO) had its price objective upped by Raymond James Financial from C$2.75 to C$3.00 in a research report issued on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 191.26% from the company’s previous close.

Separately, Stifel Nicolaus increased their price target on Meridian Mining UK Societas from C$3.00 to C$3.25 and gave the company a “buy” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$3.50.

Meridian Mining UK Societas Stock Up 9.6%

Shares of CVE:MNO traded up C$0.09 during trading on Wednesday, reaching C$1.03. 247,282 shares of the company traded hands, compared to its average volume of 220,803. The firm has a market capitalization of C$152.09 million and a PE ratio of -3.30. Meridian Mining UK Societas has a 52 week low of C$0.37 and a 52 week high of C$1.34. The company’s 50 day moving average is C$1.03 and its two-hundred day moving average is C$1.03.

Meridian Mining UK Societas Company Profile

Meridian Mining UK Societas, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. The company explores for manganese, gold, copper, and tin deposits. It holds interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia. The company also has an option to acquire a 100% interest in the Cabaçal copper-gold project located in the state of Mato Grosso; and the Mirante da Serra project located in Rondônia.