Jangada Mines (LON:JAN) Shares Down 10.3% – Here’s What Happened

Jangada Mines Plc (LON:JAN) dropped 10.3% on Tuesday . The company traded as low as GBX 1.55 and last traded at GBX 1.57. Approximately 25,206,643 shares traded hands during mid-day trading, an increase of 287% from the average daily volume of 6,512,517 shares. The stock had previously closed at GBX 1.75.

Jangada Mines Trading Up 0.3%

The firm has a fifty day moving average of GBX 1.35 and a two-hundred day moving average of GBX 1.04. The company has a market capitalization of £10.12 million, a PE ratio of -3.00 and a beta of 1.31.

Jangada Mines Company Profile

Jangada Mines Plc is a Brazilian focused mining project development company led by a team with deep industry, financial and in-country experience. Jangada has a dual growth strategy: to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project in the state of Ceará, in the Northeast Region of Brazil to production; and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company recognises the importance of commodities focussed on the renewable energy sector and to that end it has invested in various other opportunities including AIM listed Blencowe Resources plc and Fodere Titanium Limited, a UK minerals technology company.