Savannah Resources (LON:SAV) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Savannah Resources (LON:SAV) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 6 and traded as high as GBX 7.20. Savannah Resources shares last traded at GBX 7.10, with a volume of 3,516,833 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SAV shares. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 1,300 target price on shares of Savannah Resources in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “speculative buy” rating and issued a GBX 13 target price on shares of Savannah Resources in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Savannah Resources has an average rating of “Buy” and a consensus price target of GBX 656.50.

Savannah Resources Price Performance

The firm’s 50-day moving average price is GBX 6 and its two-hundred day moving average price is GBX 4.98. The stock has a market cap of £182.76 million, a PE ratio of -39.44 and a beta of 0.70. The company has a current ratio of 5.60, a quick ratio of 13.42 and a debt-to-equity ratio of 1.38.

Savannah Resources (LON:SAV) last announced its quarterly earnings results on Thursday, April 16th. The company reported GBX (0.18) earnings per share for the quarter. On average, equities analysts expect that Savannah Resources will post 3.3898305 earnings per share for the current fiscal 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. The company was formerly known as African Mining and Exploration plc and changed its name to Savannah Resources Plc in September 2013. Savannah Resources Plc was incorporated in 2010 and is based in London, the United Kingdom.