Mkango Resources (LON:MKA) Stock Price Down 1.3% – Here’s What Happened

Mkango Resources Ltd. (LON:MKA)’s stock price traded down 1.3% on Tuesday . The company traded as low as GBX 38 and last traded at GBX 39. Approximately 969,523 shares traded hands during trading, a decline of 38% from the average session volume of 1,569,906 shares. The stock had previously closed at GBX 39.50.

Mkango Resources Price Performance

The company has a debt-to-equity ratio of -64.29, a quick ratio of 0.87 and a current ratio of 0.14. The company has a market capitalization of £151.17 million, a PE ratio of -9.26 and a beta of 1.73. The company’s 50-day simple moving average is GBX 40.81 and its 200-day simple moving average is GBX 45.30.

About Mkango Resources

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.