Jangada Mines (LON:JAN) Trading 17.7% Higher – Time to Buy?

Jangada Mines Plc (LON:JAN) shares rose 17.7% during mid-day trading on Wednesday . The stock traded as high as GBX 1.70 and last traded at GBX 1.65. Approximately 7,443,039 shares traded hands during trading, an increase of 28% from the average daily volume of 5,804,608 shares. The stock had previously closed at GBX 1.40.

Jangada Mines Trading Down 14.3%

The firm has a market capitalization of £11.69 million, a P/E ratio of -3.28 and a beta of 1.31. The stock has a 50 day simple moving average of GBX 1.65 and a 200-day simple moving average of GBX 1.13.

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.