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

Mkango Resources Ltd. (LON:MKA) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 16.91 ($0.22) and last traded at GBX 14.52 ($0.19), with a volume of 5283779 shares trading hands. The stock had previously closed at GBX 13.50 ($0.18).

Mkango Resources Stock Performance

The firm’s 50-day moving average is GBX 10.84 and its 200 day moving average is GBX 8.53. The firm has a market capitalization of £60.77 million, a PE ratio of -18.34 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.