Sylvania Platinum (LON:SLP) Shares Pass Below 50 Day Moving Average – Here’s Why

Sylvania Platinum Limited (LON:SLP) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 94.68 and traded as low as GBX 86.75. Sylvania Platinum shares last traded at GBX 86.75, with a volume of 552,341 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SLP shares. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 175 price objective on shares of Sylvania Platinum in a research report on Thursday, June 4th. Berenberg Bank reissued a “buy” rating and issued a GBX 174 target price on shares of Sylvania Platinum in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Sylvania Platinum has a consensus rating of “Buy” and an average price target of GBX 174.50.

Sylvania Platinum Trading Up 0.1%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 15.92 and a current ratio of 5.30. The stock’s 50-day simple moving average is GBX 94.68 and its 200-day simple moving average is GBX 102.31. The firm has a market capitalization of £228.54 million, a PE ratio of 6.34, a P/E/G ratio of 0.05 and a beta of 1.76.

Sylvania Platinum announced that its board has approved a stock buyback program on Monday, March 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About Sylvania Platinum

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.