Kendrick Resources (LON:KEN) Trading Down 11.8% – Here’s Why

Kendrick Resources PLC (LON:KEN)’s share price dropped 11.8% during mid-day trading on Monday . The company traded as low as GBX 6.75 and last traded at GBX 6.81. Approximately 15,792,380 shares were traded during mid-day trading, an increase of 141% from the average daily volume of 6,555,234 shares. The stock had previously closed at GBX 7.73.

Kendrick Resources Trading Up 6.4%

The firm has a market cap of £23.34 million, a price-to-earnings ratio of -6.87 and a beta of 1.08. The business’s 50 day moving average price is GBX 3.30 and its 200-day moving average price is GBX 1.60. The company has a debt-to-equity ratio of -21.25, a quick ratio of 16.01 and a current ratio of 0.04.

Kendrick Resources (LON:KEN) last issued its earnings results on Wednesday, April 29th. The company reported GBX (0.91) earnings per share (EPS) for the quarter. Kendrick Resources had a negative net margin of 227,572.12% and a positive return on equity of 9,279.39%.

Insider Activity

In other news, insider Kjeld Thygesen purchased 1,837,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were bought at an average price of GBX 2 per share, for a total transaction of £36,750. Also, insider Evan Kirby purchased 1,012,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £20,250. Insiders have acquired 11,936,200 shares of company stock valued at $23,872,400 over the last quarter. Corporate insiders own 19.00% of the company’s stock.

Kendrick Resources Company Profile

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.