Kore Potash (LON:KP2) Hits New 1-Year High – Should You Buy?

Shares of Kore Potash plc (LON:KP2) hit a new 52-week high during trading on Thursday. The stock traded as high as GBX 3.90 and last traded at GBX 3.80, with a volume of 322704 shares trading hands. The stock had previously closed at GBX 3.58.

Kore Potash Stock Up 6.1%

The business has a 50-day simple moving average of GBX 3.41 and a two-hundred day simple moving average of GBX 3.20. The stock has a market capitalization of £196.69 million, a P/E ratio of -190.00 and a beta of 1.30.

Kore Potash Company Profile

Kore Potash Plc (AIM: KP2, ASX: KP2, JSE: KP2) is an advanced stage mineral exploration and development company that is incorporated in England and Wales and listed on AIM, a market operated by the London Stock Exchange, the Australian Securities Exchange (ASX) and the JSE Limited (JSE) in South Africa.
Through the development of the Sintoukola potash basin in the Republic of Congo (RoC), Kore Potash is working to bring a number of globally significant potash deposits into production. Focus is on two high-grade projects: Kola and DX.

The Company aims to move quickly to cash generation from the DX project, which has a modest capital cost and planned production of 400,000 tonnes per annum of Muriate of Potash and its adjacent potash projects provide the potential for long-term potash production district from the area.