Kendrick Resources (LON:KEN) Shares Down 10.5% – Here’s What Happened

Kendrick Resources PLC (LON:KEN) fell 10.5% on Tuesday . The stock traded as low as GBX 1.66 and last traded at GBX 1.66. 10,952,549 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 8,644,118 shares. The stock had previously closed at GBX 1.85.

Kendrick Resources Stock Performance

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 stock has a 50 day moving average price of GBX 0.49 and a two-hundred day moving average price of GBX 0.37. The company has a market cap of £4.78 million, a price-to-earnings ratio of -1.21 and a beta of -1.19.

Insider Activity at Kendrick Resources

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

Kendrick Resources Company Profile

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.