Sylvania Platinum (LON:SLP) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Sylvania Platinum Limited (LON:SLP) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 102.23 and traded as low as GBX 93.53. Sylvania Platinum shares last traded at GBX 95, with a volume of 1,169,903 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their price objective on shares of Sylvania Platinum from GBX 166 to GBX 169 and gave the stock a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 169.

Sylvania Platinum Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92. The company’s fifty day simple moving average is GBX 98.83 and its two-hundred day simple moving average is GBX 102.23. The stock has a market cap of £245.88 million, a price-to-earnings ratio of 6.82, a P/E/G ratio of 0.05 and a beta of 1.77.

Sylvania Platinum declared that its board has authorized a stock buyback program on Monday, March 23rd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Sylvania Platinum

In other Sylvania Platinum news, insider Eileen Carr acquired 25,000 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of GBX 81 per share, for a total transaction of £20,250. Also, insider Martin Preece acquired 65,100 shares of the stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of GBX 84 per share, for a total transaction of £54,684. Corporate insiders own 4.80% of the company’s stock.

Sylvania Platinum Company Profile

Sylvania Platinum is a rapidly expanding low-cost PGMs producer listed on the London Stock Exchange’s Alternative Investment Market (AIM: SLP).

Sylvania is a mid-tier, lower unit cost Platinum Group Metal (PGM)minerals reprocessing and development Company. Our operational arm, Sylvania Dump Operations (SDO), has six chrome beneficiation and PGM processing plants in the Eastern and Western limb of the Bushveld Igneous Complex (BIC).

A pioneer in chrome tailings reprocessing, Sylvania treats a combination of current and historical chrome tailings at our host mine sites.