Mkango Resources Ltd. (LON:MKA – Get Free Report) shares shot up 10.8% on Friday . The company traded as high as GBX 43 and last traded at GBX 41. 4,229,684 shares were traded during mid-day trading, an increase of 169% from the average session volume of 1,572,574 shares. The stock had previously closed at GBX 37.
Mkango Resources Trading Up 10.8%
The stock has a market capitalization of £158.92 million, a P/E ratio of -9.74 and a beta of 1.73. The business has a 50 day simple moving average of GBX 39.70 and a 200-day simple moving average of GBX 43.82. The company has a debt-to-equity ratio of -64.29, a quick ratio of 0.87 and a current ratio of 0.14.
Mkango Resources (LON:MKA – Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The company reported GBX (0.70) EPS for the quarter. Mkango Resources had a positive return on equity of 749.80% and a negative net margin of 28,220.69%.
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. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.
In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland.
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