ARB, RMM, KOD & CEG: 4 trending FTSE stocks to buy today

Highlights 

• Inflation rate in the UK rose to the highest levels since March 2012 at 3.2% in August.

• Investor community awaits the Bank of England’s decision on a rate hike at its next meeting on 23 September.

• Argo Blockchain Plc, Rambler Metals and Mining Plc, Kodal Minerals Plc and Challenger Energy Group Plc are some of the FTSE stocks making noise on the bourses today.

The inflation rate in the UK rose to 3.2% in August 2021 from 2% in July. The inflation number saw a sharp rise due to higher prices witnessed in transport, restaurants, hotels, and the foods sector. After the inflation data announcement, the UK stock market turned subdued and was trading in the range as the investor community awaits the Bank of England decision on a rate hike at its next meeting on 23 September.

Let us explore 4 FTSE listed stocks buzzing today:

Argo Blockchain Plc (LON: ARB)

The company focuses on the mining of bitcoin and other cryptocurrencies in a cost-efficient way. It uses the latest generation custom made mining machines to execute its cryptocurrencies mining activities.

The company has commenced the initial public offering of its much-awaited American Depositary Shares (ADS). These ADS will trade on the Nasdaq Global Market under the ticker symbol “ARBK” and each will carry value equivalent to 10 ordinary shares of Argo Blockchain. The book running manager for the offering is Jefferies and Barclays. The company has delivered good returns to investors over the last one year and wants to expand its shareholder base through this Depositary offering.

Argo Blockchain Plc currently trades at GBX 145.50, up by 0.35% on 15 September 2021 at 9:20 am GMT+1 with a market cap of £553.66 million.

Related Read: London-listed crypto miner Argo Blockchain files for $75M US IPO

Rambler Metals and Mining Plc (LON:RMM)

The company focuses on the exploration and production of copper and gold at its mining site. It has 100% ownership of the mining site, which is located in Canada.

The company is in final stage to secure debt financing from Newgen Resource Lending Inc. for its mining projects. The company plans to use funds for mine development and set up of Lower Footwall Zone which will support the production activity for the next two years. Also, the company plans to regain its copper production capacity of 1,350 MT per day by the end of this year and evaluate the expansion opportunities.

Rambler Metals and Mining Plc trades at GBX 23.25, up by 1.09% on 15 September 2021 at 9:20 am GMT+1 with a market cap of £29.82 million.

Kodal Minerals Plc (LON: KOD)

The company focuses on the exploration and production of industrial base metals. The company carry out its mining activities at the Bougouni Lithium project located in southern Mali.

The company is currently in the exploration and development phase at its key mining site in Mali and West Africa. The company’s Lithium mining site could be a game changer as Lithium metal is in huge demand in the automobile industry as it is one of the key components used in making electric car batteries. The company has sufficient cash and cash equivalent to carry out the mining operations and it expects to start production at its mining site soon.

Kodal Minerals Plc trades at GBX 0.36, up by 2.88% on 15 September 2021 at 9:20 am GMT+1 with a market cap of £54.95 million.

Challenger Energy Group Plc (LON:CEG)

The company focuses on the exploration and development of oil and gas assets located at Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay

The company reported gross production of 64,319 bbls from its five production assets with gross revenue of USD 3.3 million till June 2021. The company expects to start the production activity at the Saffron-2 well in Trinidad very soon. Also, the company has a good amount of cash holdings on its balance sheet at USD 10.7 million to support the key operations of the company.

Challenger Energy Group Plc trades at GBX 1.35, down by 1.82% on 15 September 2021 at 9:20 am GMT+1 with a market cap of £10.95 million.