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

Shares of Kodal Minerals PLC (LON:KOD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 0.33 and traded as low as GBX 0.28. Kodal Minerals shares last traded at GBX 0.28, with a volume of 19,991,453 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 1.20 price target on shares of Kodal Minerals in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 1.20.

Kodal Minerals Stock Performance

The firm’s 50 day moving average price is GBX 0.30 and its 200-day moving average price is GBX 0.33. The firm has a market capitalization of £57.04 million, a PE ratio of -5.73 and a beta of 0.18.

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.