Kodal Minerals (LON:KOD) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Shares of Kodal Minerals PLC (LON:KOD) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 0.39 ($0.01) and traded as low as GBX 0.37 ($0.00). Kodal Minerals shares last traded at GBX 0.38 ($0.01), with a volume of 54,245,621 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 1 ($0.01) target price on shares of Kodal Minerals in a report on Tuesday, February 11th.

Kodal Minerals Stock Down 3.6 %

The stock has a market cap of £74.82 million, a PE ratio of 2,851.65 and a beta of 0.51. The stock has a fifty day moving average of GBX 0.38 and a 200-day moving average of GBX 0.39.

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.