Mkango Resources (LON:MKA) Trading Down 0.6% – Here’s Why

Mkango Resources Ltd. (LON:MKA) traded down 0.6% on Wednesday . The stock traded as low as GBX 8.50 ($0.11) and last traded at GBX 8.70 ($0.11). 2,198,886 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 2,375,091 shares. The stock had previously closed at GBX 8.75 ($0.11).

Mkango Resources Stock Performance

The firm has a fifty day moving average of GBX 8.68 and a 200-day moving average of GBX 6.85. The company has a quick ratio of 0.87, a current ratio of 0.16 and a debt-to-equity ratio of 54.03. The stock has a market capitalization of £25.53 million, a price-to-earnings ratio of -870.00 and a beta of 2.17.

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.