Savannah Resources (LON:SAV) Stock Price Down 8.4% – What’s Next?

Savannah Resources (LON:SAV)’s share price was down 8.4% during mid-day trading on Monday . The company traded as low as GBX 4.90 and last traded at GBX 5.04. Approximately 20,169,457 shares were traded during mid-day trading, an increase of 269% from the average daily volume of 5,467,378 shares. The stock had previously closed at GBX 5.50.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SAV. Deutsche Bank Aktiengesellschaft reiterated a “speculative buy” rating and issued a GBX 13 price objective on shares of Savannah Resources in a research report on Friday, May 15th. Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 13 price objective on shares of Savannah Resources in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Savannah Resources currently has an average rating of “Buy” and an average target price of GBX 13.

Savannah Resources Price Performance

The stock has a market capitalization of £136.50 million, a P/E ratio of -29.44 and a beta of 0.76. The firm has a fifty day moving average price of GBX 6.26 and a two-hundred day moving average price of GBX 5.72. The company has a quick ratio of 13.42, a current ratio of 5.60 and a debt-to-equity ratio of 1.38.

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.