Kodal Minerals (LON:KOD) Shares Cross Below 50-Day Moving Average – What’s Next?

Kodal Minerals PLC (LON:KOD) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 0.38 ($0.01) and traded as low as GBX 0.33 ($0.00). Kodal Minerals shares last traded at GBX 0.35 ($0.00), with a volume of 22,951,590 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 1 ($0.01) price objective on shares of Kodal Minerals in a research note on Tuesday, February 11th.

Kodal Minerals Stock Up 0.3 %

The company’s 50 day simple moving average is GBX 0.38 and its 200-day simple moving average is GBX 0.38. The firm has a market cap of £69.78 million, a P/E ratio of 2,659.49 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.