Mkango Resources (LON:MKA) Stock Price Down 2.3% – Should You Sell?

Mkango Resources Ltd. (LON:MKA)’s share price dropped 2.3% during trading on Tuesday . The company traded as low as GBX 37 and last traded at GBX 38.60. Approximately 1,362,036 shares were traded during trading, an increase of 19% from the average daily volume of 1,148,069 shares. The stock had previously closed at GBX 39.50.

Mkango Resources Trading Down 1.4%

The firm has a 50-day moving average of GBX 51.90 and a two-hundred day moving average of GBX 50.25. The firm has a market capitalization of £120.48 million, a P/E ratio of -7.52 and a beta of 1.52. The company has a current ratio of 0.18, a quick ratio of 0.87 and a debt-to-equity ratio of -38.07.

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.