Mkango Resources (LON:MKA) Shares Up 12.2% – Here’s What Happened

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

Mkango Resources Stock Performance

The firm’s 50-day moving average price is GBX 10.54 and its two-hundred day moving average price is GBX 8.40. The stock has a market cap of £58.18 million, a price-to-earnings ratio of -17.56 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.