Mkango Resources (LON:MKA) Stock Price Down 1.4% – Here’s What Happened

Mkango Resources Ltd. (LON:MKA)’s share price was down 1.4% during trading on Tuesday . The stock traded as low as GBX 34.50 and last traded at GBX 36.50. Approximately 1,710,340 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 1,613,207 shares. The stock had previously closed at GBX 37.

Mkango Resources Stock Down 5.7%

The firm has a market cap of £135.27 million, a PE ratio of -8.29 and a beta of 1.75. 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 firm’s 50-day moving average price is GBX 42.77 and its two-hundred day moving average price is GBX 46.53.

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.