Mkango Resources (LON:MKA) Stock Price Down 0.6% – Time to Sell?

Mkango Resources Ltd. (LON:MKA)’s stock price fell 0.6% on Wednesday . The company traded as low as GBX 8.50 ($0.11) and last traded at GBX 8.70 ($0.11). 2,198,886 shares changed hands during trading, a decline of 7% from the average session volume of 2,375,091 shares. The stock had previously closed at GBX 8.75 ($0.11).

Mkango Resources Trading Down 0.6 %

The business’s 50 day simple moving average is GBX 8.68 and its 200 day simple moving average is GBX 6.85. The company has a debt-to-equity ratio of 54.03, a current ratio of 0.16 and a quick ratio of 0.87. The company has a market capitalization of £25.53 million, a price-to-earnings ratio of -870.00 and a beta of 2.17.

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.