Kendrick Resources (LON:KEN) Shares Up 8.4% – Time to Buy?

Kendrick Resources PLC (LON:KEN)’s stock price shot up 8.4% during mid-day trading on Wednesday . The company traded as high as GBX 6.38 and last traded at GBX 6.37. 2,457,849 shares changed hands during trading, a decline of 62% from the average session volume of 6,451,861 shares. The stock had previously closed at GBX 5.88.

Kendrick Resources Trading Up 7.5%

The stock has a market cap of £27.58 million, a price-to-earnings ratio of -8.12 and a beta of 1.08. The company has a quick ratio of 16.01, a current ratio of 0.04 and a debt-to-equity ratio of -21.25. The business has a 50-day moving average of GBX 3.47 and a 200-day moving average of GBX 1.69.

Kendrick Resources (LON:KEN) last announced its quarterly earnings results on Wednesday, April 29th. The company reported GBX (0.91) EPS for the quarter. Kendrick Resources had a positive return on equity of 9,279.39% and a negative net margin of 227,572.12%.

Insider Activity at Kendrick Resources

In other Kendrick Resources news, insider Kjeld Thygesen purchased 1,837,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of GBX 2 per share, for a total transaction of £36,750. Also, insider Evan Kirby purchased 1,012,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were acquired at an average price of GBX 2 per share, for a total transaction of £20,250. Insiders have acquired a total of 11,936,200 shares of company stock worth $23,872,400 over the last quarter. 19.00% of the stock is currently owned by corporate insiders.

About Kendrick Resources

Kendrick Resources PLC engages in the engages in the exploitation and development of mineral resources. It explores for nickel, cobalt, copper, and vanadium. The company's projects include the Airijoki Vanadium project in Sweden; the Central Sweden projects covering a combined area of 197.2 square kilometers in Sweden; the Koitelainen Vosa Vanadium Project comprising a single granted exploration permit covering 13.72 square kilometers located in Finland; and the Karhujupukka Vanadium and Nickel project that comprises two granted exploration permits covering a combined area of 6.5 square kilometers in Finland.