Savannah Resources (LON:SAV) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Savannah Resources (LON:SAV)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 3.83 and traded as low as GBX 3.60. Savannah Resources shares last traded at GBX 3.60, with a volume of 3,563,446 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 8 price target on shares of Savannah Resources in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 8.

Savannah Resources Stock Performance

The company has a current ratio of 9.15, a quick ratio of 13.42 and a debt-to-equity ratio of 0.17. The stock has a market cap of £92.67 million, a PE ratio of -20.45 and a beta of 1.25. The business’s 50-day moving average price is GBX 3.81 and its 200-day moving average price is GBX 3.83.

Savannah Resources (LON:SAV) last posted its earnings results on Wednesday, September 24th. The company reported GBX (0.07) EPS for the quarter. As a group, equities research analysts expect that Savannah Resources will post 3.3898305 earnings per share for the current fiscal year.

Insider Buying and Selling at Savannah Resources

In other Savannah Resources news, insider Emanuel Proença acquired 235,000 shares of the stock in a transaction dated Friday, November 21st. The stock was purchased at an average price of GBX 3 per share, with a total value of £7,050. 27.60% of the stock is owned by insiders.

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.