Sylvania Platinum (LON:SLP) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Sylvania Platinum Limited (LON:SLP)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 102.53 and traded as low as GBX 83. Sylvania Platinum shares last traded at GBX 85, with a volume of 766,954 shares trading hands.

Wall Street Analyst Weigh In

SLP has been the subject of several analyst reports. Berenberg Bank raised their price objective on Sylvania Platinum from GBX 166 to GBX 169 and gave the company a “buy” rating in a research note on Friday, May 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 175 price objective on shares of Sylvania Platinum in a research note on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 172.

Sylvania Platinum Price Performance

The firm has a market capitalization of £220.00 million, a P/E ratio of 6.10, a price-to-earnings-growth ratio of 0.05 and a beta of 1.77. The firm has a 50 day moving average price of GBX 99.07 and a 200-day moving average price of GBX 102.53. The company has a current ratio of 5.30, a quick ratio of 15.92 and a debt-to-equity ratio of 0.36.

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

Insider Activity at Sylvania Platinum

In other Sylvania Platinum news, insider Martin Preece purchased 65,100 shares of Sylvania Platinum stock in a transaction dated Monday, March 23rd. The shares were purchased at an average cost of GBX 84 per share, for a total transaction of £54,684. Also, insider Eileen Carr purchased 25,000 shares of Sylvania Platinum stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of GBX 81 per share, for a total transaction of £20,250. Corporate insiders own 4.64% 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.