Kendrick Resources (LON:KEN) Trading 12.5% Higher – Time to Buy?

Shares of Kendrick Resources PLC (LON:KEN) shot up 12.5% during trading on Tuesday . The company traded as high as GBX 2.40 and last traded at GBX 2.25. 6,161,713 shares changed hands during trading, a decline of 19% from the average session volume of 7,618,856 shares. The stock had previously closed at GBX 2.

Kendrick Resources Price Performance

The company has a 50 day moving average of GBX 1.06 and a 200 day moving average of GBX 0.57. The stock has a market capitalization of £7.84 million, a price-to-earnings ratio of -1.74 and a beta of 1.37. The company has a quick ratio of 16.01, a current ratio of 0.07 and a debt-to-equity ratio of 19.10.

Insider Buying and Selling

In related news, insider Martyn John Churchouse purchased 2,486,130 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average cost of GBX 1 per share, with a total value of £24,861.30. Also, insider Alex Borrelli purchased 550,000 shares of Kendrick Resources stock in a transaction dated Tuesday, February 24th. The shares were bought at an average cost of GBX 2 per share, for a total transaction of £11,000. Insiders bought a total of 14,422,330 shares of company stock worth $26,358,530 over the last quarter. Company insiders own 19.00% 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.