Savannah Resources (LON:SAV) Stock Price Up 11.4% – Here’s What Happened

Savannah Resources (LON:SAV)’s stock price rose 11.4% during trading on Friday . The stock traded as high as GBX 3.90 and last traded at GBX 3.90. Approximately 704,602 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,738,728 shares. The stock had previously closed at GBX 3.50.

Analyst Upgrades and Downgrades

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

Savannah Resources Stock Performance

The company has a market cap of £86.46 million, a P/E ratio of -21.27 and a beta of 1.25. The business’s 50 day simple moving average is GBX 4.21 and its 200 day simple moving average is GBX 4.02. The company has a current ratio of 9.15, a quick ratio of 13.42 and a debt-to-equity ratio of 0.17.

Savannah Resources (LON:SAV) last posted its quarterly earnings results on Wednesday, September 24th. The company reported GBX (0.07) earnings per share for the quarter. Sell-side analysts predict 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.