Kodal Minerals (LON:KOD) Shares Up 1% – Here’s Why

Kodal Minerals PLC (LON:KOD) shares shot up 1% on Wednesday . The company traded as high as GBX 0.31 and last traded at GBX 0.31. 20,816,889 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 73,276,336 shares. The stock had previously closed at GBX 0.31.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 1.20 price objective on shares of Kodal Minerals in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Kodal Minerals has an average rating of “Buy” and an average target price of GBX 1.20.

Kodal Minerals Stock Down 1.6%

The company has a market cap of £61.12 million, a PE ratio of -6.13 and a beta of 0.27. The stock has a 50-day moving average of GBX 0.32 and a 200-day moving average of GBX 0.35.

Kodal Minerals Company Profile

Kodal Minerals was established and listed on London’s AIM market in 2013, acquiring its flagship asset, Bougouni Lithium Project, in 2016. Kodal Minerals is aiming to be the first West African producer of lithium spodumene and become a significant player in critical minerals production to help drive the global green energy transition.

The Bougouni Lithium Project is located in Southern Mali, 170km south of the capital Bamako in the highly prospective and attractive destination for lithium exploration and development.