Kodal Minerals (LON:KOD) Trading Up 6.2% – Here’s Why

Shares of Kodal Minerals PLC (LON:KOD) traded up 6.2% during mid-day trading on Tuesday . The stock traded as high as GBX 0.34 and last traded at GBX 0.32. 16,915,809 shares traded hands during trading, a decline of 70% from the average session volume of 57,336,258 shares. The stock had previously closed at GBX 0.31.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 1 price target on shares of Kodal Minerals in a report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Kodal Minerals has a consensus rating of “Buy” and a consensus target price of GBX 1.

Kodal Minerals Trading Up 6.2%

The company has a market capitalization of £65.71 million, a PE ratio of -5.94 and a beta of 0.51. The firm has a 50 day simple moving average of GBX 0.31 and a two-hundred day simple moving average of GBX 0.31.

Kodal Minerals (LON:KOD) last issued its quarterly earnings results on Friday, December 19th. The company reported GBX (0.18) earnings per share (EPS) for the quarter.

Kodal Minerals Company Profile

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.