Mkango Resources (LON:MKA) Reaches New 52-Week High – What’s Next?

Mkango Resources Ltd. (LON:MKA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 12 ($0.15) and last traded at GBX 11 ($0.13), with a volume of 7140744 shares. The stock had previously closed at GBX 9.30 ($0.11).

Mkango Resources Stock Performance

The stock’s 50-day moving average is GBX 7.87 and its 200-day moving average is GBX 6.50. The company has a current ratio of 0.16, a quick ratio of 0.87 and a debt-to-equity ratio of 54.03. The stock has a market cap of £30.45 million, a price-to-earnings ratio of -1,037.50 and a beta of 2.17.

Mkango Resources Company Profile

Mkango’s corporate strategy is to develop new sustainable primary and secondary sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean technologies. This integrated Mine, Refine, Recycle strategy differentiates Mkango from its peers, uniquely positioning the Company in the rare earths sector.

Mkango released a Feasibility Study for Songwe Hill, Malawi, in July 2022.