Savannah Resources (LON:SAV) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

by · The Cerbat Gem

Savannah Resources (LON:SAV – Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3.84 and traded as low as GBX 3.54. Savannah Resources shares last traded at GBX 3.55, with a volume of 373,071 shares traded.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on SAV

Savannah Resources Stock Performance

The firm’s 50 day moving average price is GBX 3.86 and its 200-day moving average price is GBX 3.83. The firm has a market cap of £92.67 million, a price-to-earnings ratio of -20.45 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.15 and a quick ratio of 13.42.

Savannah Resources (LON:SAV – Get Free Report) last released its earnings results on Wednesday, September 24th. The company reported GBX (0.07) EPS for the quarter. On average, analysts anticipate that Savannah Resources will post 3.3898305 earnings per share for the current year.

Insider Buying and Selling at Savannah Resources

In other news, insider Emanuel Proença acquired 235,000 shares of the stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of GBX 3 per share, for a total transaction of £7,050. Insiders own 27.60% of the company’s stock.

About Savannah Resources

(Get Free Report)

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.

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