Mkango Resources (LON:MKA) Stock Price Up 0.5% – Time to Buy?

Shares of Mkango Resources Ltd. (LON:MKA) traded up 0.5% on Monday . The company traded as high as GBX 9.70 ($0.12) and last traded at GBX 9.45 ($0.12). 2,175,320 shares traded hands during trading, a decline of 16% from the average session volume of 2,583,274 shares. The stock had previously closed at GBX 9.40 ($0.12).

Mkango Resources Stock Up 0.5 %

The firm has a 50 day moving average price of GBX 7.61 and a 200-day moving average price of GBX 6.41. 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 firm has a market cap of £27.73 million, a price-to-earnings ratio of -945.00 and a beta of 2.17.

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.