Shares of Savannah Resources (LON:SAV – Get Free Report) rose 9.6% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as GBX 3.80 and last traded at GBX 3.78. Approximately 1,441,877 shares were traded during trading, a decline of 50% from the average daily volume of 2,868,768 shares. The stock had previously closed at GBX 3.45.
Specifically, insider Emanuel Proença acquired 235,000 shares of Savannah Resources stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average price of GBX 3 per share, with a total value of £7,050.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 8 target price on shares of Savannah Resources in a research note on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Savannah Resources presently has an average rating of “Buy” and a consensus price target of GBX 8.
Savannah Resources Stock Performance
The company has a quick ratio of 13.42, a current ratio of 9.15 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of £85.45 million, a P/E ratio of -21.02 and a beta of 1.25. The stock has a fifty day moving average of GBX 4 and a 200-day moving average of GBX 3.89.
Savannah Resources (LON:SAV – Get Free Report) last released its earnings results on Wednesday, September 24th. The company reported GBX (0.07) EPS for the quarter. On average, research analysts anticipate that Savannah Resources will post 3.3898305 EPS for the current year.
Savannah Resources Company Profile
Savannah Resources Plc explores for and develops mineral properties. It holds interests in Mutamba heavy mineral sands project in Mozambique; copper and gold projects in the Sultanate of Oman; and lithium projects located in Somero and Eräjärvi in Finland. Savannah Resources also has a 75% stake in the Mina do Barroso Project in northern Portugal.
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