Kodal Minerals (LON:KOD) Trading Down 8.5% - Here's What Happened

Kodal Minerals PLC (LON:KOD - Get Free Report)'s share price was down 8.5% during mid-day trading on Wednesday . The company traded as low as GBX 0.27 ($0.00) and last traded at GBX 0.28 ($0.00). Approximately 22,095,990 shares were traded during trading, a decline of 57% from the average daily volume of 50,951,930 shares. The stock had previously closed at GBX 0.31 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "speculative buy" rating and issued a GBX 1 ($0.01) price objective on shares of Kodal Minerals in a research report on Tuesday, February 11th.

Kodal Minerals Stock Up 5.8%

The stock has a fifty day moving average of GBX 0.35 and a two-hundred day moving average of GBX 0.37. The stock has a market cap of £58.48 million, a price-to-earnings ratio of 2,229.05 and a beta of 0.51.

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.