Mkango Resources (TSE:MKA)
:MKA
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Mkango Resources
(MKA)
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Rating:51Neutral
Price Target:
C$1.00
▲(11.11% Upside)
Action:UpgradedDate:01/28/26
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.
Positive Factors
Market Position / Vertical Integration
Mkango’s integrated presence across exploration, development and downstream magnet-related activities provides durable strategic advantage. Controlling steps from ore to magnet alloys and recycling helps capture more value, reduce reliance on third parties, and align with structural demand for permanent magnets in EVs and renewables.
Negative Factors
No Revenue / Widening Losses
Persistent absence of revenue combined with a sharp jump in TTM losses undermines the company's ability to self-fund development. Continued operating losses increase dependence on external capital, heighten execution risk for project milestones, and may delay commercialization of Songwe Hill or downstream operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Market Position / Vertical Integration
Mkango’s integrated presence across exploration, development and downstream magnet-related activities provides durable strategic advantage. Controlling steps from ore to magnet alloys and recycling helps capture more value, reduce reliance on third parties, and align with structural demand for permanent magnets in EVs and renewables.
Read all positive factors
Mkango Resources (MKA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$227.00M
Dividend YieldN/A
Average Volume (3M)108.49K
Price to Earnings (P/E)―
Beta (1Y)-1.13
Revenue GrowthN/A
EPS Growth-341.26%
CountryCA
Employees28
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.05
Shares Outstanding349,231,500
10 Day Avg. Volume154,966
30 Day Avg. Volume108,494
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)7.81
Price to Sales (P/S)0.00
P/FCF Ratio-10.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mkango Resources Business Overview & Revenue Model
Company Description
Mkango Resources Ltd., together with its subsidiaries, explores for and develops rare earth elements and associated minerals in the Republic of Malawi, Africa. It explores for uranium, tantalum, niobium, zircon, nickel, cobalt, rutile, graphite, a...
How the Company Makes Money
Mkango Resources primarily generates revenue through the exploration and development of its mineral assets, specifically rare earth elements. The company aims to make money by advancing its flagship project, the Songwe Hill Rare Earth Project, tow...
Mkango Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -13.86M | -2.54M | -4.24M | -5.85M | -9.12M | -4.09M |
| Net Income | -14.93M | -786.00K | -4.06M | -5.99M | -6.40M | -2.25M |
Balance Sheet | ||||||
| Total Assets | 13.11M | 10.71M | 9.29M | 1.53M | 5.26M | 5.78M |
| Cash, Cash Equivalents and Short-Term Investments | 2.00M | 1.16M | 996.78K | 493.70K | 4.45M | 4.92M |
| Total Debt | 1.74M | 1.19M | 0.00 | 1.60M | 0.00 | 0.00 |
| Total Liabilities | 14.80M | 4.28M | 4.73M | 2.69M | 1.26M | 289.10K |
| Stockholders Equity | -4.58M | 3.88M | 2.55M | -1.17M | 4.00M | 10.21M |
Cash Flow | ||||||
| Free Cash Flow | -6.37M | -2.85M | -4.56M | -5.33M | -7.14M | -4.22M |
| Operating Cash Flow | -4.48M | -2.14M | -3.56M | -5.14M | -7.14M | -4.22M |
| Investing Cash Flow | -1.89M | -715.74K | -2.04M | -196.37K | -7.58K | -641.93K |
| Financing Cash Flow | 5.98M | 2.95M | 6.49M | 1.83M | 6.85M | 106.90K |
Mkango Resources Technical Analysis
Negative
0.90
Price Trends
0.93
Negative
0.90
Negative
0.84
Negative
Market Momentum
-0.08
Positive
30.29
Neutral
20.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MKA, the sentiment is Negative. The current price of 0.9 is above the 20-day moving average (MA) of 0.78, below the 50-day MA of 0.93, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 30.29 is Neutral, neither overbought nor oversold. The STOCH value of 20.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MKA.
Mkango Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$136.17M | 11.50 | -1.09% | ― | ― | -107.23% | |
51 Neutral | C$227.00M | -5.20 | -855.95% | ― | ― | -341.26% | |
51 Neutral | C$276.54M | 6.70 | 336.88% | ― | ― | 93.58% | |
47 Neutral | C$184.45M | -15.35 | 170.54% | ― | ― | 34.36% | |
45 Neutral | C$377.72M | -21.63 | -12.59% | ― | ― | -51.28% | |
43 Neutral | C$250.36M | -24.08 | -14.38% | ― | ― | -15.48% |
* Basic Materials Sector Average
TSE:MKA
Mkango Resources
0.65
0.34
109.68%
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Canada Nickel Company
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TSE:LTH
Lithium Ionic Corp
1.42
0.63
79.75%
Mkango Resources Corporate Events
Business Operations and Strategy
HyProMag USA Secures Dallas–Fort Worth Site for Flagship Rare-Earth Magnet Recycling Hub
Positive
Jan 20, 2026
HyProMag USA, partly owned by Mkango Resources, has finalised a long-term lease for its first rare-earth magnet recycling and manufacturing facility at Ironhead Commerce Center in the Dallas–Fort Worth area of Texas, positioned near key rail...
Business Operations and StrategyDelistings and Listing Changes
Mkango’s HyProMag USA Targets Tripling U.S. Rare Earth Magnet Capacity by 2029
Positive
Jan 20, 2026
Mkango Resources’ HyProMag USA unit has completed expansion concept studies and begun pre-feasibility work for new rare earth magnet recycling and manufacturing plants in South Carolina and Nevada, alongside its first facility in Texas, with...
Business Operations and StrategyProduct-Related Announcements
Mkango Backs Launch of UK’s First Commercial Rare Earth Magnet Recycling Plant in 25 Years
Positive
Jan 20, 2026
Mkango Resources announced the official opening of a rare earth magnet recycling and manufacturing facility at Tyseley Energy Park in Birmingham, developed by the University of Birmingham’s Magnetic Materials Group and constructed and commis...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.