Mkango Resources (LON:MKA) Stock Price Down 6.7% – What’s Next?

Mkango Resources Ltd. (LON:MKA)’s stock price dropped 6.7% during trading on Wednesday . The stock traded as low as GBX 18 ($0.24) and last traded at GBX 18.20 ($0.24). Approximately 2,617,032 shares changed hands during trading, an increase of 27% from the average daily volume of 2,055,294 shares. The stock had previously closed at GBX 19.50 ($0.26).

Mkango Resources Trading Up 0.4 %

The stock’s 50-day moving average is GBX 13.18 and its two-hundred day moving average is GBX 9.82. The company has a market capitalization of £71.40 million, a PE ratio of -21.55 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.