Kodal Minerals (LON:KOD) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Shares of Kodal Minerals PLC (LON:KOD) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 0.32 and traded as high as GBX 0.32. Kodal Minerals shares last traded at GBX 0.32, with a volume of 24,375,467 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 1.20 price objective on shares of Kodal Minerals in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of GBX 1.20.

Kodal Minerals Price Performance

The stock has a market capitalization of £61.12 million, a PE ratio of -6.13 and a beta of 0.27. The company has a 50 day moving average price of GBX 0.32 and a 200-day moving average price of 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.