Kodal Minerals (LON:KOD) Shares Up 6.4% – What’s Next?

Kodal Minerals PLC (LON:KOD) shares shot up 6.4% during trading on Monday . The company traded as high as GBX 0.34 ($0.00) and last traded at GBX 0.33 ($0.00). 22,224,361 shares traded hands during trading, a decline of 55% from the average session volume of 49,738,742 shares. The stock had previously closed at GBX 0.31 ($0.00).

Analysts Set New Price Targets

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

Kodal Minerals Stock Up 6.4%

The stock has a 50 day simple moving average of GBX 0.37 and a 200 day simple moving average of GBX 0.38. The company has a market cap of £66.95 million, a price-to-earnings ratio of 2,551.88 and a beta of 0.51.

Kodal Minerals Company Profile

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.