Mkango Resources (LON:MKA) Trading Down 1.8% – Should You Sell?

Mkango Resources Ltd. (LON:MKA)’s stock price traded down 1.8% during trading on Tuesday . The company traded as low as GBX 54 and last traded at GBX 56. 1,491,925 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 1,297,041 shares. The stock had previously closed at GBX 57.

Mkango Resources Stock Performance

The firm has a market capitalization of £194.43 million, a PE ratio of -12.20 and a beta of 2.17. The stock has a fifty day moving average price of GBX 52.03 and a 200-day moving average price of GBX 48.12.

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. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland.