Kodal Minerals (LON:KOD) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Kodal Minerals PLC (LON:KOD) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 0.35 and traded as low as GBX 0.29. Kodal Minerals shares last traded at GBX 0.30, with a volume of 37,601,289 shares traded.

Wall Street Analysts Forecast Growth

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

Kodal Minerals Stock Performance

The firm has a market cap of £60.30 million, a PE ratio of -6.05 and a beta of 0.06. The company’s 50-day simple moving average is GBX 0.31 and its two-hundred day simple moving average is 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.