Mkango Resources (LON:MKA) Posts Earnings Results

Mkango Resources (LON:MKA) posted its quarterly earnings results on Tuesday. The company reported GBX (0.70) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Mkango Resources had a negative net margin of 28,220.69% and a positive return on equity of 749.80%.

Mkango Resources Stock Up 4.2%

Shares of MKA stock traded up GBX 1.50 during trading hours on Thursday, hitting GBX 37. 5,241,955 shares of the company were exchanged, compared to its average volume of 1,556,944. The stock has a market capitalization of £143.41 million, a price-to-earnings ratio of -8.79 and a beta of 1.73. Mkango Resources has a one year low of GBX 30.50 and a one year high of GBX 79. The business’s 50-day simple moving average is GBX 39.84 and its two-hundred day simple moving average is GBX 43.94. The company has a debt-to-equity ratio of -64.29, a quick ratio of 0.87 and a current ratio of 0.14.

Mkango Resources Company Profile

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.