Kodal Minerals (LON:KOD) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Kodal Minerals PLC (LON:KOD)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 0.44 ($0.01) and traded as low as GBX 0.42 ($0.01). Kodal Minerals shares last traded at GBX 0.45 ($0.01), with a volume of 69,152,469 shares trading hands.

Wall Street Analyst Weigh In

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

Kodal Minerals Trading Down 2.2 %

The firm’s 50-day simple moving average is GBX 0.37 and its 200-day simple moving average is GBX 0.44. The company has a quick ratio of 2.59, a current ratio of 142.38 and a debt-to-equity ratio of 6.01.

Kodal Minerals (LON:KOD) last released its earnings results on Monday, December 23rd. The company reported GBX (0.01) ($0.00) earnings per share for the quarter.

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.