Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Kendrick Resources PLC ( (GB:KEN) ) just unveiled an update.
Kendrick Resources has launched an expanded drilling and trenching programme at its Kieshöhe rare earths project in southern Namibia, aiming to define a JORC-compliant mineral resource that could support its flagship Teufelskuppe project 30km away. The company is sourcing a second drill rig, sampling over 2,500m of trenches, and submitting samples for petrological and metallurgical studies to optimise processing routes.
Initial Phase I drilling and channel sampling at Kieshöhe indicate an average total rare earth element grade of about 1.6–2.0 wt%, with high-value magnet metals neodymium and praseodymium contributing roughly 27% of the rare earth mix. With three potential open pits identified as satellite ore sources and low uranium levels in the carbonatites, Kendrick is positioning Kieshöhe as a strategic, Namibian-based REE supply option aligned with rising global demand and efforts to diversify supply away from China.
The most recent analyst rating on (GB:KEN) stock is a Hold with a £0.98 price target. To see the full list of analyst forecasts on Kendrick Resources PLC stock, see the GB:KEN Stock Forecast page.
Spark’s Take on KEN Stock
According to Spark, TipRanks’ AI Analyst, KEN is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, negative cash flow, and a material 2024 decline in equity/assets). Technicals provide some offset due to strong upward trend vs moving averages and positive MACD, but overbought momentum indicators increase near-term risk. Valuation is also constrained by negative earnings and no dividend yield support.
To see Spark’s full report on KEN stock, click here.
More about Kendrick Resources PLC
Kendrick Resources Plc is a mineral exploration and development company focused on acquiring and advancing mineral resource projects through exploration, technical studies and resource development. The board has extensive experience in southern Africa and is currently advancing the Bonya rare earth project in Namibia and the Blue Fox licence in northwest Zambia, targeting critical minerals such as rare earth elements for industrial and technological markets.
Average Trading Volume: 6,395,405
Technical Sentiment Signal: Buy
Current Market Cap: £9.36M
Find detailed analytics on KEN stock on TipRanks’ Stock Analysis page.