Kodal Minerals (LON:KOD) Stock Price Up 9.3% – Should You Buy?

Kodal Minerals PLC (LON:KOD)’s share price was up 9.3% on Tuesday . The company traded as high as GBX 0.40 ($0.01) and last traded at GBX 0.40 ($0.01). Approximately 25,868,203 shares were traded during trading, a decline of 47% from the average daily volume of 49,178,840 shares. The stock had previously closed at GBX 0.37 ($0.00).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 1 ($0.01) target price on shares of Kodal Minerals in a research note on Tuesday, February 11th.

Kodal Minerals Stock Performance

The company has a market cap of £80.67 million, a PE ratio of 3,074.56 and a beta of 0.51. The stock’s 50-day simple moving average is GBX 0.38 and its 200 day simple moving average is GBX 0.39.

About Kodal Minerals

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.