Kodal Minerals (LON:KOD) Shares Pass Below 200 Day Moving Average – Time to Sell?

Shares of Kodal Minerals PLC (LON:KOD) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 0.34 and traded as low as GBX 0.28. Kodal Minerals shares last traded at GBX 0.29, with a volume of 20,913,451 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 1.20 target price on shares of Kodal Minerals in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 1.20.

Kodal Minerals Trading Down 1.7%

The business’s 50-day moving average price is GBX 0.30 and its 200-day moving average price is GBX 0.34. The stock has a market cap of £58.06 million, a PE ratio of -5.83 and a beta of 0.18.

About Kodal Minerals

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.