Sylvania Platinum (LON:SLP) Stock Breaks Below 200 Day Moving Average – Here’s What Happened

Sylvania Platinum Limited (LON:SLP)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 92.48 and traded as low as GBX 90. Sylvania Platinum shares last traded at GBX 91, with a volume of 865,332 shares traded.

Wall Street Analysts Forecast Growth

SLP has been the subject of several research reports. Royal Bank Of Canada cut shares of Sylvania Platinum to an “outperform” rating and lowered their price objective for the company from GBX 170 to GBX 165 in a research report on Monday, August 3rd. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 162 target price on shares of Sylvania Platinum in a research note on Tuesday, September 15th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 163.50.

Sylvania Platinum Trading Up 1.9%

The company has a market cap of £239.46 million, a P/E ratio of 3.61, a P/E/G ratio of 0.05 and a beta of 1.66. The company has a quick ratio of 15.92, a current ratio of 5.32 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of GBX 91.72 and a two-hundred day moving average price of GBX 92.48.

Insider Transactions at Sylvania Platinum

In related news, insider Johannes Jacobus Prinsloo sold 91,800 shares of Sylvania Platinum stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of GBX 90, for a total value of £82,620. 4.68% of the stock is currently 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.