Mkango Resources (LON:MKA) Shares Up 8.2% – Here’s What Happened

by · The Markets Daily

Mkango Resources Ltd. (LON:MKA – Get Free Report) shares were up 8.2% on Monday . The company traded as high as GBX 59 and last traded at GBX 56.25. Approximately 1,063,818 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 2,507,784 shares. The stock had previously closed at GBX 52.

Mkango Resources Trading Up 11.1%

The firm has a market capitalization of £200.50 million, a PE ratio of -12.58 and a beta of 2.17. The stock has a 50 day simple moving average of GBX 52.17 and a 200 day simple moving average of GBX 38.46.

Mkango Resources Company Profile

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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.

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