Mkango Resources (LON:MKA) Trading Up 14.6% – Still a Buy?

Mkango Resources Ltd. (LON:MKA) shot up 14.6% on Tuesday . The stock traded as high as GBX 15.45 ($0.20) and last traded at GBX 13.75 ($0.18). 7,033,039 shares were traded during trading, an increase of 271% from the average session volume of 1,894,912 shares. The stock had previously closed at GBX 12 ($0.16).

Mkango Resources Trading Up 14.6 %

The stock has a market capitalization of £57.55 million, a price-to-earnings ratio of -17.37 and a beta of 2.17. The company has a fifty day moving average of GBX 10.27 and a two-hundred day moving average of GBX 8.19.

Mkango Resources Company Profile

Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.

Mkango released a Feasibility Study for Songwe Hill, Malawi, in July 2022.