Mkango Resources (LON:MKA) Reaches New 52-Week High - Here's What Happened

Key Points

• Shares of Mkango Resources Ltd. reached a new 52-week high of GBX 45 ($0.60) during trading, closing at GBX 44.25 ($0.59) with a volume of 2,760,176 shares.
• The company's market capitalization stands at £148.68 million and it has a notably high price-to-earnings ratio of -5,601.27.
• Mkango is focused on developing sustainable sources of rare earth elements to meet increasing demand from the electric vehicle and clean technology sectors.

Shares of Mkango Resources Ltd. (LON:MKA - ) hit a new 52-week high during trading on Friday . The company traded as high as GBX 45 ($0.60) and last traded at GBX 44.25 ($0.59), with a volume of 2760176 shares trading hands. The stock had previously closed at GBX 41.50 ($0.55).

Mkango Resources Stock Up 6.6%

The stock has a 50 day moving average price of GBX 36.89 and a 200 day moving average price of GBX 23.91. The stock has a market capitalization of £148.68 million, a price-to-earnings ratio of -5,601.27 and a beta of 2.17.

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.

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