Mkango Resources (LON:MKA) Reaches New 1-Year High – Still a Buy?

Mkango Resources Ltd. (LON:MKA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as GBX 12 ($0.15) and last traded at GBX 11 ($0.14), with a volume of 7140744 shares traded. The stock had previously closed at GBX 9.30 ($0.12).

Mkango Resources Stock Performance

The company has a market capitalization of £32.28 million, a P/E ratio of -1,100.00 and a beta of 2.17. The company’s 50 day moving average is GBX 7.68 and its 200-day moving average is GBX 6.43. The company has a current ratio of 0.16, a quick ratio of 0.87 and a debt-to-equity ratio of 54.03.

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.