Savannah Resources (LON:SAV) Shares Cross Below 200 Day Moving Average – What’s Next?

Savannah Resources (LON:SAV) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 5.94 and traded as low as GBX 5.30. Savannah Resources shares last traded at GBX 5.30, with a volume of 16,568,887 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 12 target price on shares of Savannah Resources in a report on Friday, September 18th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 12.50.

Savannah Resources Stock Down 8.9%

The stock’s 50-day moving average price is GBX 5.88 and its two-hundred day moving average price is GBX 5.94. The stock has a market capitalization of £136.50 million, a PE ratio of -29.44 and a beta of 0.74. The company has a debt-to-equity ratio of 1.37, a quick ratio of 13.42 and a current ratio of 4.50.

Savannah Resources (LON:SAV) last issued its quarterly earnings results on Friday, September 18th. The company reported GBX (8) earnings per share (EPS) for the quarter. As a group, analysts expect that Savannah Resources will post 3.3898305 EPS for the current fiscal 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. 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.