Mkango Resources (LON:MKA) Reaches New 12-Month High – Still a Buy?

Mkango Resources Ltd. (LON:MKA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 20 ($0.27) and last traded at GBX 20 ($0.27), with a volume of 2223648 shares. The stock had previously closed at GBX 18.65 ($0.25).

Mkango Resources Price Performance

The firm has a market capitalization of £82.24 million, a price-to-earnings ratio of -24.82 and a beta of 2.17. The business’s 50 day moving average price is GBX 12.58 and its 200-day moving average price is GBX 9.46.

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.