Mkango Resources (LON:MKA) Shares Down 7.9% - Here's Why

Mkango Resources Ltd. (LON:MKA - Get Free Report) shares fell 7.9% during trading on Tuesday . The stock traded as low as GBX 28 ($0.38) and last traded at GBX 29 ($0.39). 12,077,854 shares traded hands during mid-day trading, an increase of 384% from the average session volume of 2,496,501 shares. The stock had previously closed at GBX 31.50 ($0.43).

Mkango Resources Stock Up 2.5%

The firm's 50-day moving average price is GBX 17.36 and its two-hundred day moving average price is GBX 13.80. The firm has a market capitalization of £127.66 million, a PE ratio of -38.52 and a beta of 2.17.

Mkango Resources (LON:MKA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported GBX (0.29) ($0.00) earnings per share for the quarter.

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.