Kodal Minerals (LON:KOD) Trading 17.4% Higher – Here’s Why

Shares of Kodal Minerals PLC (LON:KOD) shot up 17.4% during trading on Monday . The company traded as high as GBX 0.59 and last traded at GBX 0.59. 219,750,734 shares traded hands during mid-day trading, an increase of 83% from the average session volume of 119,914,039 shares. The stock had previously closed at GBX 0.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1 target price on shares of Kodal Minerals in a research note on Thursday, January 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Kodal Minerals presently has an average rating of “Buy” and an average target price of GBX 1.

Kodal Minerals Price Performance

The business’s 50-day moving average price is GBX 0.34 and its two-hundred day moving average price is GBX 0.33. The firm has a market cap of £96.94 million, a price-to-earnings ratio of -9.78 and a beta of 0.51.

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

About Kodal Minerals

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.