Mkango Resources (LON:MKA) Releases Quarterly Earnings Results

Mkango Resources (LON:MKA) released its quarterly earnings results on Tuesday. The company reported GBX (0.70) EPS for the quarter, Digital Look Earnings reports. Mkango Resources had a positive return on equity of 749.80% and a negative net margin of 28,220.69%.

Mkango Resources Stock Performance

Shares of LON MKA traded down GBX 1 during midday trading on Tuesday, hitting GBX 36.50. 2,407,924 shares of the company’s stock were exchanged, compared to its average volume of 1,538,455. The firm has a market cap of £141.48 million, a P/E ratio of -8.67 and a beta of 1.73. Mkango Resources has a twelve month low of GBX 30.50 and a twelve month high of GBX 79. The stock’s 50 day moving average price is GBX 40.16 and its 200-day moving average price is GBX 44.21. The company has a debt-to-equity ratio of -64.29, a current ratio of 0.14 and a quick ratio of 0.87.

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. Malawi is known as “The Warm Heart of Africa”, a stable democracy with existing road, rail and power infrastructure, and new infrastructure developments underway.

In parallel, Mkango recently announced that Mkango and Grupa Azoty PULAWY, Poland’s leading chemical company and the second largest manufacturer of nitrogen and compound fertilizers in the European Union, have agreed to work together towards development of a rare earth Separation Plant at Pulawy in Poland.