Cadence Minerals (LON:KDNC) Shares Up 6.9% After Insider Buying Activity

Shares of Cadence Minerals Plc (LON:KDNC) rose 6.9% on Thursday following insider buying activity. The company traded as high as GBX 5.50 and last traded at GBX 5.08. Approximately 1,899,956 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 1,579,102 shares. The stock had previously closed at GBX 4.75.

Specifically, insider Kiran Morzaria purchased 733,867 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of GBX 4 per share, for a total transaction of £29,354.68.

Cadence Minerals Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 9.29 and a quick ratio of 78.09. The stock has a market capitalization of £20.78 million, a price-to-earnings ratio of -9.65 and a beta of 1.80. The company has a 50-day simple moving average of GBX 5.86 and a two-hundred day simple moving average of GBX 5.20.

Cadence Minerals (LON:KDNC) last issued its quarterly earnings data on Monday, June 29th. The company reported GBX (0.53) earnings per share for the quarter. Cadence Minerals had a net margin of 875.38% and a negative return on equity of 9.74%.

About Cadence Minerals

Cadence Minerals Plc identifies, invests in, and develops rare earth assets. It also explores for iron ore, lithium, and other mining related opportunities. The company holds interests in the Sonora Lithium project located in Northern Mexico; and Yangibana project situated in Gascoyne, Western Australia; and the Amapa Iron Ore project located in Brazil. In addition, it holds interest in Evergreen Lithium project situated in Western Australia; and European Metals Holdings project located in Cinovec.