Meridian Mining UK Societas (OTCMKTS:MRRDF) Shares Shorted: Short Interest Up 72.3% in September

Meridian Mining UK Societas (OTCMKTS:MRRDF) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,011,045 shares, a growth of 72.3% from the September 15th total of 586,943 shares. Based on an average trading volume of 116,222 shares, the short-interest ratio is currently 8.7 days.

Analysts Set New Price Targets

Separately, Raymond James Financial restated an “outperform” rating on shares of Meridian Mining UK Societas in a report on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy”.

Meridian Mining UK Societas Stock Performance

OTCMKTS MRRDF remained flat at C$1.47 during mid-day trading on Friday. 222,016 shares of the company were exchanged, compared to its average volume of 42,746. Meridian Mining UK Societas has a 1 year low of C$0.71 and a 1 year high of C$1.75. The firm’s fifty day simple moving average is C$1.40 and its two-hundred day simple moving average is C$1.29.

Meridian Mining UK Societas Company Profile

Meridian Mining UK Societas is a mineral exploration and development company focused on advancing base- and precious-metals projects in Brazil. The company’s principal asset is the Cabaçal volcanogenic massive sulfide (VMS) project in Mato Grosso, which contains copper, gold and silver mineralization and was historically mined on a limited basis.

Meridian’s activities include geological exploration, drilling, resource evaluation and technical studies intended to assess the potential for future development at Cabaçal.