Jangada Mines (LON:JAN) Shares Pass Below 50 Day Moving Average – What’s Next?

Shares of Jangada Mines Plc (LON:JAN) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 1.09 and traded as low as GBX 0.80. Jangada Mines shares last traded at GBX 0.82, with a volume of 3,474,209 shares trading hands.

Jangada Mines Price Performance

The firm has a market cap of £7.03 million, a price-to-earnings ratio of -1.90 and a beta of 2.15. The stock has a 50-day moving average of GBX 1.09 and a 200-day moving average of GBX 1.51.

About Jangada Mines

Jangada Mines Plc is a Brazilian focused mining project development company led by a team with deep industry, financial and in-country experience. Jangada has a dual growth strategy: to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project in the state of Ceará, in the Northeast Region of Brazil to production; and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company recognises the importance of commodities focussed on the renewable energy sector and to that end it has invested in various other opportunities including AIM listed Blencowe Resources plc and Fodere Titanium Limited, a UK minerals technology company.