Mkango Resources (LON:MKA) Sets New 12-Month High – Time to Buy?

Mkango Resources Ltd. (LON:MKA) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 12.50 ($0.16) and last traded at GBX 12 ($0.16), with a volume of 1547743 shares trading hands. The stock had previously closed at GBX 12.25 ($0.16).

Mkango Resources Price Performance

The firm has a market capitalization of £53.05 million, a P/E ratio of -16.01 and a beta of 2.17. The stock’s fifty day simple moving average is GBX 10.32 and its 200 day simple moving average is GBX 8.24.

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.