Kodal Minerals (LON:KOD) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Kodal Minerals PLC (LON:KOD) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 0.35 and traded as low as GBX 0.31. Kodal Minerals shares last traded at GBX 0.33, with a volume of 80,610,328 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 1 price objective on shares of Kodal Minerals in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 1.

Kodal Minerals Price Performance

The company has a market capitalization of £64.79 million, a price-to-earnings ratio of -6.50 and a beta of 0.30. The stock has a 50-day moving average price of GBX 0.34 and a 200-day moving average price of GBX 0.35.

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.