Mkango Resources (LON:MKA) Trading Down 6.4% – Here’s What Happened

Mkango Resources Ltd. (LON:MKA) shares were down 6.4% during trading on Monday . The company traded as low as GBX 59 ($0.79) and last traded at GBX 61.75 ($0.82). Approximately 5,431,118 shares traded hands during trading, an increase of 106% from the average daily volume of 2,638,554 shares. The stock had previously closed at GBX 66 ($0.88).

Mkango Resources Price Performance

The stock has a fifty day moving average of GBX 45.41 and a 200 day moving average of GBX 30.38. The stock has a market cap of £201.60 million, a price-to-earnings ratio of -75.95 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.