Jangada Mines (LON:JAN) Reaches New 1-Year High – Still a Buy?

Jangada Mines Plc (LON:JAN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1.50 ($0.02) and last traded at GBX 1.31 ($0.02), with a volume of 6408159 shares changing hands. The stock had previously closed at GBX 1.09 ($0.01).

Jangada Mines Stock Up 20.4%

The firm has a fifty day moving average of GBX 0.70 and a 200-day moving average of GBX 0.77. The firm has a market cap of £4.25 million, a P/E ratio of -6,359.67 and a beta of 1.31.

Jangada Mines Company Profile

Jangada Mines Plc is a Brazilian focused mining project development company led by a team with deep industry, financial and in-country experience. Jangada has a dual growth strategy: to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project in the state of Ceará, in the Northeast Region of Brazil to production; and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company recognises the importance of commodities focussed on the renewable energy sector and to that end it has invested in various other opportunities including AIM listed Blencowe Resources plc and Fodere Titanium Limited, a UK minerals technology company.