Savannah Resources (LON:SAV) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Savannah Resources (LON:SAV)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 4.13 ($0.06) and traded as low as GBX 4.10 ($0.05). Savannah Resources shares last traded at GBX 4.13 ($0.06), with a volume of 1,359,992 shares changing hands.

Analyst Ratings Changes

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

Savannah Resources Stock Down 0.5%

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 stock’s fifty day simple moving average is GBX 4.21 and its 200-day simple moving average is GBX 4.13. The stock has a market cap of £97.69 million, a P/E ratio of -24.03 and a beta of 1.25.

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

About Savannah Resources

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.