Meridian Mining UK Societas (CVE:MNO – Get Rating)'s share price shot up 9.6% on Tuesday . The stock traded as high as C$1.07 and last traded at C$1.03. 247,282 shares changed hands during trading, an increase of 12% from the average session volume of 220,803 shares. The stock had previously closed at C$0.94.

Wall Street Analysts Forecast Growth

Separately, Raymond James set a C$2.00 target price on Meridian Mining UK Societas and gave the company a "strong-buy" rating in a research note on Thursday, June 9th.

Meridian Mining UK Societas Stock Up 9.6 %

The firm has a 50 day moving average price of C$1.03 and a two-hundred day moving average price of C$1.00. The company has a market capitalization of C$152.09 million and a price-to-earnings ratio of -3.30.

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. 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 Rondà ́nia.

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