Meridian Mining UK Societas (OTCMKTS:MRRDF) Sees Significant Decline in Short Interest

Meridian Mining UK Societas (OTCMKTS:MRRDF) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 308,441 shares, a decline of 54.1% from the May 31st total of 671,731 shares. Based on an average daily trading volume, of 35,842 shares, the short-interest ratio is presently 8.6 days.

Meridian Mining UK Societas Price Performance

OTCMKTS:MRRDF opened at C$1.13 on Wednesday. Meridian Mining UK Societas has a 1-year low of C$0.54 and a 1-year high of C$1.56. The firm has a 50 day simple moving average of C$1.31 and a 200-day simple moving average of C$1.25.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets began coverage on Meridian Mining UK Societas in a report on Thursday, April 23rd. They set an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Meridian Mining UK Societas has a consensus rating of “Buy”.

About Meridian Mining UK Societas

Meridian Mining UK Societas, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. It explores for manganese, gold, copper, and tin deposits. The company holds a 100% interest in the Espigão polymetallic project and the Ariquemes tin project located in Rondônia. It 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.