Kodal Minerals (LON:KOD) Trading Up 8.5% – Still a Buy?

Kodal Minerals PLC (LON:KOD)’s stock price rose 8.5% during mid-day trading on Monday . The company traded as high as GBX 0.42 ($0.01) and last traded at GBX 0.42 ($0.01). Approximately 98,429,531 shares changed hands during mid-day trading, an increase of 98% from the average daily volume of 49,741,543 shares. The stock had previously closed at GBX 0.39 ($0.01).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1 ($0.01) target price on shares of Kodal Minerals in a report on Tuesday, February 11th.

Kodal Minerals Trading Up 8.5 %

The company has a market capitalization of £84.70 million, a price-to-earnings ratio of 3,228.29 and a beta of 0.51. The stock’s 50 day moving average price is GBX 0.39 and its 200 day moving average price is GBX 0.40.

About Kodal Minerals

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.