Jangada Mines (LON:JAN) Shares Down 7.9% – Here’s Why

Shares of Jangada Mines Plc (LON:JAN) dropped 7.9% during trading on Friday . The stock traded as low as GBX 1.70 and last traded at GBX 1.70. Approximately 5,059,160 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 12,134,737 shares. The stock had previously closed at GBX 1.85.

Jangada Mines Trading Down 0.4%

The firm’s fifty day moving average price is GBX 1.79 and its 200 day moving average price is GBX 1.63. The stock has a market capitalization of £15.50 million, a price-to-earnings ratio of -3.60 and a beta of 1.77.

Jangada Mines Company Profile

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.