Kodal Minerals (LON:KOD) Shares Cross Above Fifty Day Moving Average – Here’s Why

Kodal Minerals PLC (LON:KOD)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 0.31 and traded as high as GBX 0.33. Kodal Minerals shares last traded at GBX 0.32, with a volume of 14,252,380 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1 price objective on shares of Kodal Minerals in a report on Friday, December 26th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 1.

Kodal Minerals Trading Up 9.0%

The firm’s 50-day moving average price is GBX 0.31 and its two-hundred day moving average price is GBX 0.31. The stock has a market cap of £70.98 million, a PE ratio of -6.42 and a beta of 0.51.

Kodal Minerals (LON:KOD) last issued its quarterly earnings data on Friday, December 19th. The company reported GBX (0.18) earnings per share (EPS) for the quarter.

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.