Kodal Minerals (LON:KOD) Trading 1% Higher – Should You Buy?

Kodal Minerals PLC (LON:KOD)’s stock price rose 1% on Wednesday . The company traded as high as GBX 0.31 and last traded at GBX 0.31. Approximately 20,816,889 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 73,276,336 shares. The stock had previously closed at GBX 0.31.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1.20 target price on shares of Kodal Minerals in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 1.20.

Kodal Minerals Price Performance

The company has a market capitalization of £61.12 million, a P/E ratio of -6.13 and a beta of 0.27. The stock’s 50 day moving average is GBX 0.32 and its 200-day moving average is 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.