The stock of Kibo Mining PLC (LON:KIBO) hit a new 52-week high and has GBX 16.60 target or 117.00% above today’s GBX 7.65 share price. The 9 months bullish chart indicates low risk for the GBX 27.20M company. The 1-year high was reported on Sep, 14 by Barchart.com. If the GBX 16.60 price target is reached, the company will be worth GBX 31.82M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 11.30% or GBX 0.97 on September 13, hitting GBX 7.65. About 3.06M shares traded hands or 46.41% up from the average. Kibo Mining PLC (LON:KIBO) has risen 77.14% since February 12, 2016 and is uptrending. It has outperformed by 60.65% the S&P500.
Kibo Mining Plc is engaged in the exploration for and development of coal and other minerals in Tanzania. The company has a market cap of 27.20 million GBP. The Firm operates through two divisions: mining and corporate. It has a 231.82 P/E ratio. The mining segment operates in Tanzania.
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