Kodal Minerals (LON:KOD) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Kodal Minerals PLC (LON:KOD)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 0.40 ($0.01) and traded as low as GBX 0.36 ($0.00). Kodal Minerals shares last traded at GBX 0.38 ($0.00), with a volume of 14,064,783 shares changing hands.

Wall Street Analysts Forecast Growth

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

Kodal Minerals Trading Up 1.4 %

The company has a market capitalization of £75.62 million, a P/E ratio of 2,882.40 and a beta of 0.51. The stock has a 50 day moving average price of GBX 0.39 and a 200 day moving average price of GBX 0.40.

Kodal Minerals (LON:KOD) last posted its earnings results on Monday, December 23rd. The company reported GBX (0.01) ($0.00) EPS for the quarter.

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.