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The latest update is out from Mkango Resources ( (TSE:MKA) ).
HyProMag USA, backed by Mkango Resources and CoTec Holdings, will expand the detailed engineering phase of its U.S. permanent magnet recycling and manufacturing project to include three HPMS vessels at its planned Texas Hub. The company will also launch concept studies to potentially triple project capacity across Texas, South Carolina and Nevada, and to add complementary long-loop chemical processing to handle additional feedstocks.
The November 2024 feasibility work indicated robust project economics, with the third HPMS vessel adding incremental value for a relatively modest capital cost and raising projected net present value. The modular design of the hubs is expected to enable cost-efficient replication and optimisation, while the expanded capacity and integrated short-loop and long-loop recycling could supply about 10% of U.S. NdFeB magnet demand, support reshoring of magnet manufacturing and strengthen HyProMag USA’s competitive position in low-carbon magnet recycling.
The most recent analyst rating on (TSE:MKA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Mkango Resources stock, see the TSE:MKA Stock Forecast page.
Spark’s Take on MKA Stock
According to Spark, TipRanks’ AI Analyst, MKA is a Neutral.
The score is held down primarily by weak financial performance: no revenue, sustained cash burn, and a sharp TTM deterioration including negative equity. Technicals provide the main support due to a strong uptrend and positive momentum, but valuation remains constrained by ongoing losses and no dividend data.
To see Spark’s full report on MKA stock, click here.
More about Mkango Resources
Mkango Resources is a rare earths company listed in London and Toronto that is developing and commercialising technologies across the permanent magnet supply chain. Through its HyProMag subsidiaries and partnership with CoTec Holdings, it focuses on recycling and manufacturing neodymium-iron-boron (NdFeB) permanent magnets, targeting U.S. and European demand for critical magnet materials.
Average Trading Volume: 84,237
Technical Sentiment Signal: Buy
Current Market Cap: C$293.4M
Find detailed analytics on MKA stock on TipRanks’ Stock Analysis page.