Mkango Resources (TSE:MKA)
:MKA
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Mkango Resources
(MKA)
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Rating:45Neutral
Price Target:
C$0.75
▼(-16.56% Downside)
Action:Reiterated
Date:06/01/26
The score is primarily held down by weak financial performance—minimal revenue, recurring losses, negative equity, and continued cash burn—indicating elevated funding and execution risk. Technical indicators are broadly neutral with only modest short-term improvement, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Structural demand for rare earths
Mkango targets rare earths used in permanent magnets for EVs and wind turbines, markets tied to multi-year clean-tech growth. This demand profile supports long-term offtake potential for separated rare earth products, underpinning revenue opportunity if projects reach commercial scale.
Negative Factors
Sharp TTM earnings deterioration
The company recorded a large TTM net loss (~$14.3M), reversing prior improvement and signaling materially higher operating costs or one-off strains. Sustained deep losses undermine internal funding capacity, increase future financing needs, and raise execution risk for long-duration development projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Structural demand for rare earths
Mkango targets rare earths used in permanent magnets for EVs and wind turbines, markets tied to multi-year clean-tech growth. This demand profile supports long-term offtake potential for separated rare earth products, underpinning revenue opportunity if projects reach commercial scale.
Read all positive factors
Mkango Resources (MKA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$298.34M
Dividend YieldN/A
Average Volume (3M)108.49K
Price to Earnings (P/E)―
Beta (1Y)-1.32
Revenue GrowthN/A
EPS Growth-483.50%
CountryCA
Employees28
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.04
Shares Outstanding387,460,300
10 Day Avg. Volume154,966
30 Day Avg. Volume108,494
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-61.40
Price to Sales (P/S)0.00
P/FCF Ratio-30.88
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., operating through its subsidiaries, specializes in the exploration and subsequent development of rare earth elements and related minerals. Their primary operations are situated in the Republic of Malawi, Africa. Beyond its c...
How the Company Makes Money
Mkango Resources’ business model is centered on developing rare earth assets and related downstream operations that can generate revenue through (1) rare earth product sales, (2) recycling-derived materials, and (3) project financing and partnersh...
Mkango Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -888.27K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -6.13M | -2.54M | -4.24M | -5.85M | -9.12M |
| Net Income | -17.26M | -786.00K | -4.06M | -5.99M | -6.40M |
Balance Sheet | |||||
| Total Assets | 14.96M | 10.71M | 9.29M | 1.53M | 5.26M |
| Cash, Cash Equivalents and Short-Term Investments | 3.05M | 1.16M | 996.78K | 493.70K | 4.45M |
| Total Debt | 1.71M | 1.19M | 0.00 | 1.60M | 0.00 |
| Total Liabilities | 15.62M | 4.28M | 4.73M | 2.69M | 1.26M |
| Stockholders Equity | -3.30M | 3.88M | 2.55M | -1.17M | 4.00M |
Cash Flow | |||||
| Free Cash Flow | -6.56M | -2.85M | -4.56M | -5.33M | -7.14M |
| Operating Cash Flow | -4.29M | -2.14M | -3.56M | -5.14M | -7.14M |
| Investing Cash Flow | -2.50M | -715.74K | -2.04M | -196.37K | -7.58K |
| Financing Cash Flow | 8.65M | 2.95M | 6.49M | 1.83M | 6.85M |
Mkango Resources Technical Analysis
Negative
0.90
Price Trends
0.84
Negative
0.86
Negative
0.90
Negative
Market Momentum
-0.01
Positive
43.58
Neutral
33.03
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 0.81, above the 50-day MA of 0.84, and below the 200-day MA of 0.90, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 43.58 is Neutral, neither overbought nor oversold. The STOCH value of 33.03 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% | |
53 Neutral | C$125.07M | -32.00 | -9.03% | ― | ― | -159.22% | |
45 Neutral | C$298.34M | -12.30 | 9999.00% | ― | ― | -483.50% | |
44 Neutral | C$204.79M | -10.87 | -14.13% | ― | ― | -25.53% | |
44 Neutral | C$347.34M | -12.76 | -12.59% | ― | ― | -65.13% | |
42 Neutral | C$147.98M | -20.33 | -76.95% | ― | ― | 78.01% | |
40 Underperform | C$107.21M | -7.85 | 170.54% | ― | ― | 28.33% |
* Basic Materials Sector Average
TSE:MKA
Mkango Resources
0.77
0.50
180.00%
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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.