Savannah Resources (LON:SAV) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Savannah Resources (LON:SAV)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 4.01 ($0.05) and traded as high as GBX 4.50 ($0.06). Savannah Resources shares last traded at GBX 4.30 ($0.06), with a volume of 3,636,981 shares trading hands.

Analyst Upgrades and Downgrades

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

Savannah Resources Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 9.15 and a quick ratio of 13.42. The company has a market capitalization of £100.76 million, a PE ratio of -2,478.98 and a beta of 1.25. The firm has a 50-day moving average of GBX 4.01 and a 200 day moving average of GBX 4.17.

Savannah Resources (LON:SAV) last issued its earnings results on Wednesday, September 24th. The company reported GBX (0.07) earnings per share for the quarter. As a group, research analysts anticipate 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.