Kore Potash (LON:KP2) Shares Up 6.2% - Time to Buy?

Key Points

• Kore Potash's shares rose by 6.2% to GBX 3.40 ($0.05) on Friday, despite a decline in trading volume by 46% compared to the average session.
• The company, focused on developing global potash deposits in the Republic of Congo, has a market cap of £165.11 million and a significantly low PE ratio of -157,407.41.
• Shore Capital has restated its "house stock" rating on Kore Potash shares as of July 31st, indicating ongoing interest from analysts.

Shares of Kore Potash plc (LON:KP2 - Get Free Report) traded up 6.2% on Friday . The company traded as high as GBX 3.40 ($0.05) and last traded at GBX 3.40 ($0.05). 899,088 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,662,481 shares. The stock had previously closed at GBX 3.20 ($0.04).

Wall Street Analyst Weigh In

Separately, Shore Capital restated a "house stock" rating on shares of Kore Potash in a report on Thursday, July 31st.

Kore Potash Price Performance

The stock has a fifty day moving average of GBX 2.84 and a 200 day moving average of GBX 2.63. The firm has a market capitalization of £192.31 million, a P/E ratio of -183,333.33 and a beta of 1.31.

About Kore Potash

Kore Potash Plc (AIM: KP2, ASX: KP2, JSE: KP2) is an advanced stage mineral exploration and development company that is incorporated in England and Wales and listed on AIM, a market operated by the London Stock Exchange, the Australian Securities Exchange (ASX) and the JSE Limited (JSE) in South Africa. Through the development of the Sintoukola potash basin in the Republic of Congo (RoC), Kore Potash is working to bring a number of globally significant potash deposits into production.