Mkango Resources (LON:MKA) Stock Price Down 3% – Should You Sell?

Mkango Resources Ltd. (LON:MKA)’s share price fell 3% during mid-day trading on Friday . The stock traded as low as GBX 36.90 ($0.50) and last traded at GBX 38.80 ($0.52). 634,456 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,620,222 shares. The stock had previously closed at GBX 40 ($0.54).

Mkango Resources Price Performance

The firm’s 50-day moving average price is GBX 34.18 and its 200-day moving average price is GBX 21.59. The company has a market cap of £122.64 million, a price-to-earnings ratio of -4,746.84 and a beta of 2.17.

Mkango Resources Company Profile

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.