Mkango Resources (LON:MKA) Reaches New 1-Year High – Still a Buy?

Posted by Caroline Horne on Jan 8th, 2025

Mkango Resources Ltd. (LON:MKA – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 12 ($0.15) and last traded at GBX 11 ($0.14), with a volume of 7140744 shares. The stock had previously closed at GBX 9.30 ($0.12).

Mkango Resources Stock Performance

The business has a fifty day moving average of GBX 7.68 and a 200-day moving average of GBX 6.43. The company has a market cap of £32.28 million, a PE ratio of -1,100.00 and a beta of 2.17. The company has a current ratio of 0.16, a quick ratio of 0.87 and a debt-to-equity ratio of 54.03.

About Mkango Resources

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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.