Meridian Mining UK Societas (OTCMKTS:MRRDF) Stock Short Interest Drops 37.5%

Meridian Mining UK Societas (OTCMKTS:MRRDF) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 586,943 shares, a decrease of 37.5% from the August 31st total of 938,431 shares. Based on an average daily volume of 40,546 shares, the short-interest ratio is presently 14.5 days.

Analysts Set New Price Targets

Separately, Raymond James Financial reissued an “outperform” rating on shares of Meridian Mining UK Societas in a research note on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Meridian Mining UK Societas currently has a consensus rating of “Buy”.

Meridian Mining UK Societas Trading Up 4.2%

OTCMKTS:MRRDF traded up C$0.07 during trading hours on Thursday, reaching C$1.62. 15,000 shares of the stock were exchanged, compared to its average volume of 43,030. Meridian Mining UK Societas has a twelve month low of C$0.71 and a twelve month high of C$1.72. The firm has a 50 day moving average of C$1.28 and a 200 day moving average of C$1.26.

About Meridian Mining UK Societas

Meridian Mining UK Societas is a mineral exploration and development company focused on advancing copper, gold and silver projects in Brazil. The company’s activities include exploration, drilling, resource definition and technical studies aimed at identifying and developing economically viable mineral deposits.

Meridian’s principal asset is the Cabaçal copper-gold-silver project in the state of Mato Grosso, Brazil. Cabaçal is a historical volcanogenic massive sulfide mining operation that the company is evaluating through modern exploration and development programs.