Mkango Resources (LON:MKA) Stock Price Up 12.2% – Still a Buy?

Mkango Resources Ltd. (LON:MKA) shot up 12.2% during mid-day trading on Tuesday . The stock traded as high as GBX 13.82 ($0.18) and last traded at GBX 13.75 ($0.18). 3,879,643 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 1,901,088 shares. The stock had previously closed at GBX 12.25 ($0.16).

Mkango Resources Price Performance

The firm has a fifty day moving average price of GBX 10.75 and a two-hundred day moving average price of GBX 8.49. The stock has a market capitalization of £57.65 million, a PE ratio of -17.40 and a beta of 2.17.

About Mkango Resources

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.