Kendrick Resources (LON:KEN) Trading Up 7% – Here’s What Happened

Shares of Kendrick Resources PLC (LON:KEN) were up 7% during trading on Wednesday . The stock traded as high as GBX 2.30 and last traded at GBX 2.30. 461,424 shares were traded during mid-day trading, a decline of 94% from the average session volume of 7,558,373 shares. The stock had previously closed at GBX 2.15.

Kendrick Resources Price Performance

The stock has a market cap of £6.38 million, a price-to-earnings ratio of -1.61 and a beta of -1.19. The company has a current ratio of 0.07, a quick ratio of 16.01 and a debt-to-equity ratio of 19.10. The company’s fifty day moving average is GBX 0.99 and its two-hundred day moving average is GBX 0.54.

Insiders Place Their Bets

In other news, insider Kjeld Thygesen acquired 1,837,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of GBX 2 per share, for a total transaction of £36,750. Also, insider Colin Bird bought 6,400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of GBX 2 per share, for a total transaction of £128,000. In the last three months, insiders acquired 14,422,330 shares of company stock valued at $26,358,530. Insiders own 20.98% of the company’s stock.

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.