Sylvania Platinum (LON:SLP) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Sylvania Platinum Limited (LON:SLP)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 102.53 and traded as low as GBX 83. Sylvania Platinum shares last traded at GBX 85, with a volume of 766,954 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Berenberg Bank upped their target price on shares of Sylvania Platinum from GBX 166 to GBX 169 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 175 target price on shares of Sylvania Platinum in a report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Sylvania Platinum currently has an average rating of “Buy” and a consensus target price of GBX 172.

Sylvania Platinum Stock Up 5.9%

The firm’s 50-day moving average price is GBX 98.99 and its 200 day moving average price is GBX 102.44. The firm has a market capitalization of £232.94 million, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.05 and a beta of 1.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92.

Sylvania Platinum announced that its board has approved a stock repurchase plan on Monday, March 23rd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Sylvania Platinum

In other Sylvania Platinum news, insider Eileen Carr purchased 25,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of GBX 81 per share, for a total transaction of £20,250. Also, insider Martin Preece purchased 65,100 shares of the stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of GBX 84 per share, for a total transaction of £54,684. 4.64% of the stock is owned by corporate insiders.

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.