Mkango Resources (LON:MKA) Reaches New 1-Year High – Here’s What Happened

Mkango Resources Ltd. (LON:MKA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 17.50 ($0.23) and last traded at GBX 16.25 ($0.21), with a volume of 1687709 shares changing hands. The stock had previously closed at GBX 17 ($0.22).

Mkango Resources Stock Down 4.4 %

The business has a 50 day moving average of GBX 11.84 and a 200 day moving average of GBX 9.04. The firm has a market cap of £68.01 million, a price-to-earnings ratio of -20.52 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.