Mkango Resources (LON:MKA) Trading Down 0.8% – What’s Next?

Mkango Resources Ltd. (LON:MKA)’s stock price was down 0.8% on Tuesday . The company traded as low as GBX 51 and last traded at GBX 52.60. Approximately 757,045 shares traded hands during trading, a decline of 36% from the average daily volume of 1,191,012 shares. The stock had previously closed at GBX 53.

Mkango Resources Price Performance

The company has a quick ratio of 0.87, a current ratio of 0.18 and a debt-to-equity ratio of -38.07. The firm’s fifty day moving average price is GBX 53.28 and its 200-day moving average price is GBX 49.60. The stock has a market cap of £181.60 million, a P/E ratio of -11.33 and a beta of 1.52.

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.