Kodal Minerals (LON:KOD) Stock Price Down 15.4% – Time to Sell?

Shares of Kodal Minerals PLC (LON:KOD) dropped 15.4% during trading on Monday . The stock traded as low as GBX 0.42 and last traded at GBX 0.42. Approximately 243,362,531 shares traded hands during mid-day trading, an increase of 51% from the average daily volume of 161,562,156 shares. The stock had previously closed at GBX 0.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 1 target price on shares of Kodal Minerals in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 1.

Kodal Minerals Price Performance

The company has a 50 day simple moving average of GBX 0.36 and a 200-day simple moving average of GBX 0.33. The stock has a market capitalization of £97.75 million, a P/E ratio of -9.86 and a beta of 0.51.

Kodal Minerals (LON:KOD) last announced its quarterly earnings data on Friday, December 19th. The company reported GBX (0.18) earnings per share for the quarter.

Kodal Minerals Company Profile

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.