Mkango Resources (LON:MKA) Hits New 12-Month High - Should You Buy?

Key Points

• Mkango Resources Ltd. reached a new 52-week high of GBX 85 ($1.13) during trading, reflecting a significant increase in stock price from its previous close of GBX 56 ($0.75).
• The company's market capitalization stands at £221.76 million, with a P/E ratio of -83.54 and a beta of 2.17, indicating volatility in its stock performance.
• Mkango's strategy focuses on developing sustainable sources of rare earth elements to cater to the growing demand from electric vehicles and clean technologies, differentiating it from competitors in the sector.

Mkango Resources Ltd. (LON:MKA - )'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as GBX 85 ($1.13) and last traded at GBX 66 ($0.88), with a volume of 7236225 shares traded. The stock had previously closed at GBX 56 ($0.75).

Mkango Resources Trading Up 17.9%

The company's 50 day moving average is GBX 44.96 and its 200-day moving average is GBX 29.85. The company has a market capitalization of £221.76 million, a P/E ratio of -83.54 and a beta of 2.17.

Mkango Resources Company Profile

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.

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