Kodal Minerals (LON:KOD) Stock Price Down 8.5% – What’s Next?

Kodal Minerals PLC (LON:KOD) shares were down 8.5% on Wednesday . The stock traded as low as GBX 0.27 ($0.00) and last traded at GBX 0.28 ($0.00). Approximately 22,095,990 shares changed hands during trading, a decline of 57% from the average daily volume of 50,951,930 shares. The stock had previously closed at GBX 0.31 ($0.00).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 1 ($0.01) target price on shares of Kodal Minerals in a report on Tuesday, February 11th.

Kodal Minerals Price Performance

The company’s fifty day moving average price is GBX 0.35 and its 200 day moving average price is GBX 0.37. The company has a market cap of £55.26 million, a PE ratio of 2,106.07 and a beta of 0.51.

Kodal Minerals Company Profile

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.