Mercantile Ports & Logistics (LON:MPL) Stock Jumps 20% – Here’s What Happened

Mercantile Ports & Logistics Limited (LON:MPL) shares rose 20% during trading on Thursday. The stock traded as high as GBX 3.49 and last traded at GBX 3.18. Approximately 52,957,086 shares changed hands during trading, an increase of 410% from the average session volume of 10,381,802 shares. The stock had previously closed at GBX 2.65.

Mercantile Ports & Logistics Price Performance

The business has a fifty day moving average price of GBX 1.60 and a 200 day moving average price of GBX 1.34. The company has a debt-to-equity ratio of 77.03, a quick ratio of 0.38 and a current ratio of 1.01. The company has a market cap of £11.33 million, a price-to-earnings ratio of -0.39 and a beta of 0.41.

Mercantile Ports & Logistics (LON:MPL) last issued its quarterly earnings results on Wednesday, September 30th. The company reported GBX (0.90) EPS for the quarter.

About Mercantile Ports & Logistics

The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.
The terminal will be designed to handle vessels of up to 4000 DWT having a draft of up to 5 meters, with the potential to handle vessels up to 10 meter draft at a later stage.

Logistics Facility

Karanja Terminal will also house an ultra-modern logistics complex spread over approximately 100 acres of land.