Mkango Resources (LON:MKA) Reaches New 12-Month High – What’s Next?

Mkango Resources Ltd. (LON:MKA) shares reached a new 52-week high during trading on Monday . The company traded as high as GBX 12.50 ($0.16) and last traded at GBX 12 ($0.15), with a volume of 1547743 shares changing hands. The stock had previously closed at GBX 12.25 ($0.16).

Mkango Resources Trading Down 2.0 %

The stock has a market cap of £50.23 million, a price-to-earnings ratio of -15.16 and a beta of 2.17. The firm’s 50 day moving average is GBX 10.24 and its two-hundred day moving average is GBX 8.15.

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.