Kendrick Resources (LON:KEN) Trading 11.9% Higher – Here’s Why

Kendrick Resources PLC (LON:KEN)’s share price was up 11.9% on Monday . The stock traded as high as GBX 2.25 and last traded at GBX 2.24. Approximately 2,244,570 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 7,847,891 shares. The stock had previously closed at GBX 2.

Kendrick Resources Stock Up 2.4%

The stock has a 50 day moving average price of GBX 0.69 and a 200-day moving average price of GBX 0.44. The stock has a market capitalization of £6.45 million, a P/E ratio of -1.63 and a beta of -1.19. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.30 and a quick ratio of 16.01.

Insider Activity at Kendrick Resources

In related news, insider Martyn John Churchouse acquired 2,136,200 shares of the stock in a transaction on Tuesday, February 24th. The stock was purchased at an average price of GBX 2 per share, for a total transaction of £42,724. Also, insider Kjeld Thygesen acquired 1,837,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of GBX 2 per share, with a total value of £36,750. Insiders bought a total of 14,422,330 shares of company stock worth $26,358,530 over the last three months. Corporate 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.