Kavango Resources (LON:KAV) Trading 18% Higher – What’s Next?

Shares of Kavango Resources Plc (LON:KAV) shot up 18% during mid-day trading on Friday . The stock traded as high as GBX 0.89 and last traded at GBX 0.89. 475,988 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 2,274,492 shares. The stock had previously closed at GBX 0.75.

Kavango Resources Stock Up 20.0%

The business has a 50 day moving average of GBX 0.79 and a 200 day moving average of GBX 0.86. The company has a market capitalization of £32.71 million, a P/E ratio of -1.32 and a beta of 0.69.

Insider Activity

In other news, insider Peter Wynter Bee bought 4,502,662 shares of the stock in a transaction dated Wednesday, January 7th. The stock was purchased at an average cost of GBX 1 per share, for a total transaction of £45,026.62. 9.99% of the stock is owned by company insiders.

Kavango Resources Company Profile

Kavango Resources Plc, together with its subsidiaries, engages in the exploration of base and precious metals in Botswana and Zimbabwe. It explores for nickel, copper, silver, platinum, iron, gold, uranium, and rare earth deposits. The company was incorporated in 2017 and is based in London, the United Kingdom. Kavango Resources Plc operates as a subsidiary of Purebond Ltd.