Mkango Resources (LON:MKA) Reaches New 1-Year High – Here’s Why

Mkango Resources Ltd. (LON:MKA) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 20 ($0.27) and last traded at GBX 20 ($0.27), with a volume of 2223648 shares changing hands. The stock had previously closed at GBX 18.65 ($0.25).

Mkango Resources Stock Performance

The business has a 50-day simple moving average of GBX 12.58 and a two-hundred day simple moving average of GBX 9.46. The company has a market capitalization of £82.24 million, a price-to-earnings ratio of -24.82 and a beta of 2.17.

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.