Kendrick Resources (LON:KEN) Shares Up 12.9% – Still a Buy?

Kendrick Resources PLC (LON:KEN) shares shot up 12.9% during trading on Wednesday . The company traded as high as GBX 3.50 and last traded at GBX 3.50. 6,022,483 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 6,068,203 shares. The stock had previously closed at GBX 3.10.

Kendrick Resources Trading Down 2.3%

The firm has a market cap of £10.13 million, a P/E ratio of -2.24 and a beta of 1.19. The company has a debt-to-equity ratio of 19.10, a current ratio of 0.07 and a quick ratio of 16.01. The stock has a 50 day moving average of GBX 2.34 and a 200 day moving average of GBX 1.03.

Insiders Place Their Bets

In other news, insider Colin Bird bought 6,400,000 shares of Kendrick Resources stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired at an average price of GBX 2 per share, with a total value of £128,000. Also, insider Martyn John Churchouse bought 2,486,130 shares of Kendrick Resources stock in a transaction that occurred on Wednesday, January 28th. The stock was purchased at an average cost of GBX 1 per share, for a total transaction of £24,861.30. Insiders have purchased 14,422,330 shares of company stock valued at $26,358,530 over the last quarter. Insiders own 19.00% of the company’s stock.

Kendrick Resources Company Profile

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.