Kendrick Resources (LON:KEN) Shares Up 11.9% – Still a Buy?

Shares of Kendrick Resources PLC (LON:KEN) shot up 11.9% during trading on Monday . The company traded as high as GBX 2.25 and last traded at GBX 2.24. 2,244,570 shares were traded during mid-day trading, a decline of 71% from the average session volume of 7,847,891 shares. The stock had previously closed at GBX 2.

Kendrick Resources Trading Up 11.9%

The business’s 50-day simple moving average is GBX 0.62 and its two-hundred day simple moving average is GBX 0.41. The company has a current ratio of 0.30, a quick ratio of 16.01 and a debt-to-equity ratio of 2.33. The company has a market capitalization of £6.56 million, a PE ratio of -1.66 and a beta of -1.19.

Insiders Place Their Bets

In other Kendrick Resources news, insider Martyn John Churchouse acquired 2,486,130 shares of the stock in a transaction on Wednesday, January 28th. The stock was purchased at an average price of GBX 1 per share, for a total transaction of £24,861.30. 20.98% of the stock is currently owned by company insiders.

About Kendrick Resources

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.