Mkango Resources Ltd. (LON:MKA – Get Free Report)’s stock price dropped 12.3% during trading on Thursday. The company traded as low as GBX 28.05 and last traded at GBX 28.40. 3,250,732 shares traded hands during mid-day trading, an increase of 112% from the average daily volume of 1,530,418 shares. The stock had previously closed at GBX 32.37.
Mkango Resources Price Performance
The firm’s 50-day moving average price is GBX 39.14 and its 200-day moving average price is GBX 41.46. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 25.45. The stock has a market capitalization of £110.46 million, a PE ratio of -6.12 and a beta of 1.73.
Mkango Resources (LON:MKA – Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The company reported GBX (0.70) EPS for the quarter. Mkango Resources had a positive return on equity of 5,692.08% and a negative net margin of 31,610.42%.
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. 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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