Kavango Resources (LON:KAV) Stock Price Down 3.3% – Here’s Why

Kavango Resources Plc (LON:KAV)’s stock price dropped 3.3% during trading on Friday . The stock traded as low as GBX 0.70 and last traded at GBX 0.70. Approximately 6,917,270 shares changed hands during trading, an increase of 204% from the average daily volume of 2,278,122 shares. The stock had previously closed at GBX 0.73.

Kavango Resources Trading Down 3.3%

The firm has a 50-day moving average of GBX 0.82 and a 200-day moving average of GBX 0.83. The stock has a market capitalization of £25.48 million, a price-to-earnings ratio of -1.03 and a beta of 0.69.

Insiders Place Their Bets

In other news, insider Peter Wynter Bee purchased 4,502,662 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were acquired at an average price of GBX 1 per share, for a total transaction of £45,026.62. Insiders own 9.99% of the company’s stock.

Kavango Resources Company Profile

Kavango Resources Plc, together with its subsidiaries, engages in the exploration of base and precious metals in Botswana and Zimbabwe. It explores for nickel, copper, silver, platinum, iron, gold, uranium, and rare earth deposits. The company was incorporated in 2017 and is based in London, the United Kingdom. Kavango Resources Plc operates as a subsidiary of Purebond Ltd.