Mkango Resources (LON:MKA) Hits New 1-Year High – Time to Buy?

Mkango Resources Ltd. (LON:MKA) hit a new 52-week high during trading on Friday . The stock traded as high as GBX 16.91 ($0.22) and last traded at GBX 14.52 ($0.19), with a volume of 5283779 shares. The stock had previously closed at GBX 13.50 ($0.17).

Mkango Resources Stock Up 7.6 %

The firm has a market cap of £60.77 million, a P/E ratio of -18.34 and a beta of 2.17. The firm’s fifty day moving average is GBX 10.96 and its two-hundred day moving average is GBX 8.59.

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.