Mkango Resources (LON:MKA) Sets New 1-Year High – Should You Buy?

Mkango Resources Ltd. (LON:MKA)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 12 ($0.15) and last traded at GBX 11 ($0.13), with a volume of 7140744 shares traded. The stock had previously closed at GBX 9.30 ($0.11).

Mkango Resources Price Performance

The business has a fifty day moving average of GBX 7.87 and a 200 day moving average of GBX 6.50. The company has a debt-to-equity ratio of 54.03, a current ratio of 0.16 and a quick ratio of 0.87. The stock has a market cap of £30.45 million, a PE ratio of -1,037.50 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.