Kendrick Resources (LON:KEN) Shares Down 14.8% – Here’s Why

Kendrick Resources PLC (LON:KEN)’s stock price dropped 14.8% during trading on Tuesday . The stock traded as low as GBX 6.06 and last traded at GBX 6.50. Approximately 13,731,517 shares traded hands during trading, an increase of 127% from the average daily volume of 6,046,520 shares. The stock had previously closed at GBX 7.63.

Kendrick Resources Price Performance

The company has a current ratio of 0.04, a quick ratio of 16.01 and a debt-to-equity ratio of -21.25. The company has a 50 day moving average price of GBX 2.76 and a 200 day moving average price of GBX 1.33. The firm has a market cap of £26.10 million, a PE ratio of -7.68 and a beta of 1.08.

Kendrick Resources (LON:KEN) last posted its earnings results on Wednesday, April 29th. The company reported GBX (0.91) earnings per share (EPS) for the quarter. Kendrick Resources had a negative net margin of 227,572.12% and a positive return on equity of 9,279.39%.

Insider Transactions at Kendrick Resources

In related news, insider Kjeld Thygesen bought 1,837,500 shares of Kendrick Resources stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of GBX 2 per share, with a total value of £36,750. Also, insider Colin Bird bought 6,400,000 shares of Kendrick Resources stock in a transaction that occurred on Tuesday, February 24th. The stock was bought at an average cost of GBX 2 per share, for a total transaction of £128,000. Insiders have bought 11,936,200 shares of company stock worth $23,872,400 in the last quarter. Insiders own 19.00% of the company’s stock.

About Kendrick Resources

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.