Mkango Resources (LON:MKA) Shares Down 7.8% – Time to Sell?

Mkango Resources Ltd. (LON:MKA) traded down 7.8% on Monday . The stock traded as low as GBX 57 and last traded at GBX 59. 1,225,708 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 2,645,420 shares. The stock had previously closed at GBX 64.

Mkango Resources Stock Down 7.8%

The company’s fifty day moving average is GBX 46.97 and its two-hundred day moving average is GBX 31.90. The firm has a market capitalization of £198.24 million, a price-to-earnings ratio of -74.68 and a beta of 2.17.

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.