Kodal Minerals (LON:KOD) Trading Up 10.4% – Time to Buy?

Kodal Minerals PLC (LON:KOD)’s stock price traded up 10.4% during trading on Monday . The stock traded as high as GBX 0.42 ($0.01) and last traded at GBX 0.41 ($0.01). 99,075,125 shares changed hands during trading, an increase of 69% from the average session volume of 58,618,508 shares. The stock had previously closed at GBX 0.37 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1.45 ($0.02) price objective on shares of Kodal Minerals in a report on Thursday, September 26th.

Kodal Minerals Stock Performance

The company has a debt-to-equity ratio of 6.01, a current ratio of 142.38 and a quick ratio of 2.59. The stock’s 50 day simple moving average is GBX 0.36 and its 200 day simple moving average is GBX 0.46.

Kodal Minerals Company Profile

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.