Kendrick Resources (LON:KEN) Shares Up 7% – Still a Buy?

Kendrick Resources PLC (LON:KEN) shares were up 7% on Wednesday . The company traded as high as GBX 2.30 and last traded at GBX 2.30. Approximately 461,424 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 7,558,373 shares. The stock had previously closed at GBX 2.15.

Kendrick Resources Stock Performance

The company’s 50 day moving average price is GBX 0.91 and its 200-day moving average price is GBX 0.51. The company has a debt-to-equity ratio of 19.10, a quick ratio of 16.01 and a current ratio of 0.07. The company has a market cap of £7.27 million, a PE ratio of -1.84 and a beta of -1.19.

Insider Buying and Selling at Kendrick Resources

In other news, insider Kjeld Thygesen bought 1,837,500 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was acquired at an average cost of GBX 2 per share, with a total value of £36,750. Also, insider Evan Kirby bought 1,012,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £20,250. Insiders purchased 14,422,330 shares of company stock valued at $26,358,530 in the last quarter. Insiders own 20.98% of the company’s stock.

Kendrick Resources Company Profile

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.