Shares of Kibo Energy PLC (LON:KIBO) shot up 9.6% during mid-day trading on Monday . The stock traded as high as GBX 2.36 ($0.03) and last traded at GBX 2.36 ($0.03). 157,588 shares were traded during trading, a decline of 91% from the average session volume of 1,780,000 shares. The stock had previously closed at GBX 2.15 ($0.03).
Separately, First Equity began coverage on Kibo Energy in a research note on Wednesday, November 28th. They set a “buy” rating and a GBX 15 ($0.20) target price for the company.
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Kibo Energy Company Profile (LON:KIBO)
Kibo Energy PLC, together with its subsidiaries, explores for and develops coal and other minerals in Africa. It also explores for nickel, gold, and platinum group metals. The company's flagship project is the Mbeya coal to power project that comprises 22 tenements located in south-western Tanzania.
Further Reading: Average Daily Trade Volume – What You Need to Know
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