Mkango Resources (LON:MKA) Trading Up 11.4% - Should You Buy?

Key Points

• Mkango Resources Ltd. saw its stock price increase by 11.4% during trading, reaching GBX 39 ($0.52), with trading volume significantly up at 4,004,335 shares.
• The company has a market capitalization of £154.86 million, a PE ratio of -46.73, and reported earnings per share of GBX (0.29) for the last quarter.
• Mkango's strategy involves developing sustainable sources of rare earth elements to meet the growing demand from electric vehicles and other clean technologies.

Mkango Resources Ltd. (LON:MKA - Get Free Report)'s stock price rose 11.4% during trading on Friday . The stock traded as high as GBX 39.40 ($0.52) and last traded at GBX 39 ($0.52). Approximately 4,004,335 shares traded hands during mid-day trading, an increase of 51% from the average daily volume of 2,658,398 shares. The stock had previously closed at GBX 35 ($0.46).

Mkango Resources Trading Up 5.7%

The firm has a 50 day moving average price of GBX 21.61 and a 200 day moving average price of GBX 16.04. The stock has a market capitalization of £154.86 million, a PE ratio of -46.73 and a beta of 2.17.

Mkango Resources (LON:MKA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported GBX (0.29) ($0.00) earnings per share (EPS) 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.

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