Sylvania Platinum (LON:SLP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Sylvania Platinum Limited (LON:SLP) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 101.72 and traded as high as GBX 103.20. Sylvania Platinum shares last traded at GBX 98.50, with a volume of 337,023 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank lifted their price target on shares of Sylvania Platinum from GBX 166 to GBX 169 and gave the company a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Sylvania Platinum has a consensus rating of “Buy” and an average price target of GBX 169.

Sylvania Platinum Stock Down 1.1%

The firm’s 50-day moving average price is GBX 98.47 and its 200 day moving average price is GBX 101.72. The company has a market capitalization of £254.94 million, a price-to-earnings ratio of 7.07, a PEG ratio of 0.05 and a beta of 1.77. 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 has authorized a share buyback program on Monday, March 23rd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Eileen Carr bought 25,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of GBX 81 per share, for a total transaction of £20,250. Also, insider Johannes Jacobus Prinsloo sold 205,750 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of GBX 126, for a total transaction of £259,245. Insiders own 4.80% 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.