Kodal Minerals (LON:KOD) Shares Up 8.5% – Should You Buy?

Kodal Minerals PLC (LON:KOD)’s share price shot up 8.5% during mid-day trading on Monday . The company traded as high as GBX 0.42 ($0.01) and last traded at GBX 0.42 ($0.01). 98,429,531 shares changed hands during mid-day trading, an increase of 98% from the average session volume of 49,741,543 shares. The stock had previously closed at GBX 0.39 ($0.01).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 1 ($0.01) price objective on shares of Kodal Minerals in a report on Tuesday, February 11th.

Kodal Minerals Trading Down 4.4 %

The firm has a market cap of £79.05 million, a P/E ratio of 3,013.07 and a beta of 0.51. The business’s fifty day simple moving average is GBX 0.39 and its 200-day simple moving average is GBX 0.40.

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.