Jangada Mines (LON:JAN) Shares Up 17.7% – Here’s Why

Jangada Mines Plc (LON:JAN) shot up 17.7% on Wednesday . The company traded as high as GBX 1.70 and last traded at GBX 1.65. 7,443,039 shares were traded during mid-day trading, an increase of 28% from the average session volume of 5,804,608 shares. The stock had previously closed at GBX 1.40.

Jangada Mines Stock Up 40.6%

The stock has a market capitalization of £13.77 million, a P/E ratio of -3.86 and a beta of 1.31. The company has a 50 day moving average of GBX 1.63 and a 200-day moving average of GBX 1.12.

About Jangada Mines

Jangada Mines Plc is a Brazilian focused mining project development company led by a team with deep industry, financial and in-country experience. Jangada has a dual growth strategy: to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project in the state of Ceará, in the Northeast Region of Brazil to production; and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company recognises the importance of commodities focussed on the renewable energy sector and to that end it has invested in various other opportunities including AIM listed Blencowe Resources plc and Fodere Titanium Limited, a UK minerals technology company.