Jangada Mines (LON:JAN) Trading 11.6% Higher – Time to Buy?

Jangada Mines Plc (LON:JAN)’s stock price rose 11.6% on Wednesday . The stock traded as high as GBX 1.10 and last traded at GBX 1.06. Approximately 8,012,569 shares were traded during trading, an increase of 96% from the average daily volume of 4,086,325 shares. The stock had previously closed at GBX 0.95.

Jangada Mines Trading Up 17.9%

The firm’s fifty day moving average price is GBX 0.91 and its 200-day moving average price is GBX 0.87. The firm has a market cap of £7.17 million, a price-to-earnings ratio of -2.20 and a beta of 1.31.

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.