Kendrick Resources (LON:KEN) Shares Down 7.3% – Here’s Why

Kendrick Resources PLC (LON:KEN)’s stock price fell 7.3% during mid-day trading on Monday . The company traded as low as GBX 1.90 and last traded at GBX 1.90. 6,464,310 shares were traded during mid-day trading, a decline of 15% from the average session volume of 7,634,557 shares. The stock had previously closed at GBX 2.05.

Kendrick Resources Price Performance

The firm has a 50-day moving average of GBX 1.11 and a 200 day moving average of GBX 0.58. The stock has a market capitalization of £7.69 million, a price-to-earnings ratio of -1.70 and a beta of 1.37. The company has a debt-to-equity ratio of 19.10, a current ratio of 0.07 and a quick ratio of 16.01.

Insider Buying and Selling at Kendrick Resources

In other Kendrick Resources news, insider Martyn John Churchouse bought 2,136,200 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were purchased at an average price of GBX 2 per share, for a total transaction of £42,724. Also, insider Colin Bird bought 6,400,000 shares of the stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of GBX 2 per share, with a total value of £128,000. Insiders purchased 14,422,330 shares of company stock worth $26,358,530 over the last quarter. 19.00% 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.