Kendrick Resources (LON:KEN) Stock Price Up 40% – Still a Buy?

Shares of Kendrick Resources PLC (LON:KEN) shot up 40% during mid-day trading on Wednesday . The company traded as high as GBX 8.43 and last traded at GBX 8.05. 4,666,642 shares changed hands during trading, a decline of 10% from the average daily volume of 5,182,614 shares. The stock had previously closed at GBX 5.75.

Kendrick Resources Stock Down 10.6%

The company has a market cap of £30.18 million, a price-to-earnings ratio of -7.86 and a beta of 1.47. The company has a debt-to-equity ratio of -19.78, a current ratio of 0.04 and a quick ratio of 16.01. The firm’s 50-day moving average price is GBX 6.55 and its 200-day moving average price is GBX 4.47.

Kendrick Resources Company Profile

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.