Savannah Resources (LON:SAV) Shares Cross Above Fifty Day Moving Average – What’s Next?

Savannah Resources (LON:SAV)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 3.73 and traded as high as GBX 3.99. Savannah Resources shares last traded at GBX 3.75, with a volume of 2,987,320 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 8 price target 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.com, the company presently has an average rating of “Buy” and a consensus price target of GBX 8.

Savannah Resources Trading Up 6.1%

The firm has a market cap of £102.45 million, a PE ratio of -22.61 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. The business has a 50-day moving average price of GBX 3.73 and a two-hundred day moving average price of GBX 3.83.

Insiders Place Their Bets

In related news, insider Emanuel Proença purchased 235,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average price of GBX 3 per share, with a total value of £7,050. Company insiders own 27.60% of the company’s stock.

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. The company was formerly known as African Mining and Exploration plc and changed its name to Savannah Resources Plc in September 2013. Savannah Resources Plc was incorporated in 2010 and is based in London, the United Kingdom.