Mkango Resources (LON:MKA) Stock Jumps 6.4% – What’s Next?

Mkango Resources Ltd. (LON:MKA)’s stock price was up 6.4% during trading on Friday. The stock traded as high as GBX 43 and last traded at GBX 43. Approximately 611,721 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,539,532 shares. The stock had previously closed at GBX 40.40.

Mkango Resources Stock Performance

The stock has a 50-day moving average of GBX 40.20 and a 200 day moving average of GBX 42.53. The stock has a market cap of £167.25 million, a PE ratio of -9.27 and a beta of 1.73. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 25.45.

Mkango Resources (LON:MKA) last issued its earnings results on Tuesday, September 1st. The company reported GBX (0.70) earnings per share (EPS) for the quarter. Mkango Resources had a negative net margin of 31,610.42% and a positive return on equity of 5,692.08%.

About Mkango Resources

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. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland.