Cadence Minerals (LON:KDNC) Stock Price Up 6.9% After Insider Buying Activity

Cadence Minerals Plc (LON:KDNC)’s share price rose 6.9% during trading on Thursday after an insider bought additional shares in the company. The company traded as high as GBX 5.50 and last traded at GBX 5.08. Approximately 1,899,956 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 1,579,102 shares. The stock had previously closed at GBX 4.75.

Specifically, insider Kiran Morzaria acquired 733,867 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average cost of GBX 4 per share, for a total transaction of £29,354.68.

Cadence Minerals Stock Performance

The stock has a market cap of £20.78 million, a P/E ratio of -9.65 and a beta of 1.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.29 and a quick ratio of 78.09. The company has a fifty day moving average of GBX 5.86 and a 200 day moving average of GBX 5.20.

Cadence Minerals (LON:KDNC) last issued its quarterly earnings results on Monday, June 29th. The company reported GBX (0.53) earnings per share (EPS) for the quarter. Cadence Minerals had a net margin of 875.38% and a negative return on equity of 9.74%.

Cadence Minerals Company Profile

Cadence Minerals Plc identifies, invests in, and develops rare earth assets. It also explores for iron ore, lithium, and other mining related opportunities. The company holds interests in the Sonora Lithium project located in Northern Mexico; and Yangibana project situated in Gascoyne, Western Australia; and the Amapa Iron Ore project located in Brazil. In addition, it holds interest in Evergreen Lithium project situated in Western Australia; and European Metals Holdings project located in Cinovec.