Mkango Resources (LON:MKA) Reaches New 1-Year High – What’s Next?

Mkango Resources Ltd. (LON:MKA)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as GBX 12.50 ($0.16) and last traded at GBX 11.90 ($0.15), with a volume of 11003040 shares. The stock had previously closed at GBX 10.75 ($0.13).

Mkango Resources Stock Performance

The stock has a market cap of £34.92 million, a P/E ratio of -1,190.00 and a beta of 2.17. The company has a fifty day moving average price of GBX 8.91 and a 200 day moving average price of GBX 7.01. The company has a debt-to-equity ratio of 54.03, a current ratio of 0.16 and a quick ratio of 0.87.

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.