Jangada Mines (LON:JAN) Shares Up 13.8% – Time to Buy?

Jangada Mines Plc (LON:JAN) shares shot up 13.8% during mid-day trading on Thursday . The company traded as high as GBX 1.20 and last traded at GBX 1.20. 11,418,685 shares were traded during trading, an increase of 152% from the average session volume of 4,532,262 shares. The stock had previously closed at GBX 1.05.

Jangada Mines Price Performance

The firm’s 50-day moving average price is GBX 0.96 and its 200-day moving average price is GBX 0.88. The stock has a market cap of £7.81 million, a P/E ratio of -2.39 and a beta of 1.31.

Jangada Mines Company Profile

Jangada Mines Plc is a Brazilian focused mining project development company led by a team with deep industry, financial and in-country experience. Jangada has a dual growth strategy: to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project in the state of Ceará, in the Northeast Region of Brazil to production; and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company recognises the importance of commodities focussed on the renewable energy sector and to that end it has invested in various other opportunities including AIM listed Blencowe Resources plc and Fodere Titanium Limited, a UK minerals technology company.