Mkango Resources (LON:MKA) Stock Price Up 14.6% – Here’s Why

Shares of Mkango Resources Ltd. (LON:MKA) were up 14.6% during trading on Tuesday . The stock traded as high as GBX 15.45 ($0.20) and last traded at GBX 13.75 ($0.18). Approximately 7,033,039 shares changed hands during mid-day trading, an increase of 271% from the average daily volume of 1,894,912 shares. The stock had previously closed at GBX 12 ($0.16).

Mkango Resources Stock Up 14.6 %

The stock has a fifty day simple moving average of GBX 10.27 and a 200-day simple moving average of GBX 8.19. The company has a market capitalization of £57.55 million, a P/E ratio of -17.37 and a beta of 2.17.

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.