Mercantile Ports & Logistics (LON:MPL) Hits New 52-Week High – Still a Buy?

Mercantile Ports & Logistics Limited (LON:MPL) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 2.20 and last traded at GBX 1.55, with a volume of 105751734 shares trading hands. The stock had previously closed at GBX 0.55.

Mercantile Ports & Logistics Price Performance

The firm has a 50 day moving average of GBX 0.37 and a 200-day moving average of GBX 0.52. The company has a market cap of £5.52 million, a P/E ratio of -0.18 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.38 and a debt-to-equity ratio of 77.03.

About Mercantile Ports & Logistics

The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.
The terminal will be designed to handle vessels of up to 4000 DWT having a draft of up to 5 meters, with the potential to handle vessels up to 10 meter draft at a later stage.

Logistics Facility

Karanja Terminal will also house an ultra-modern logistics complex spread over approximately 100 acres of land.