Savannah Resources (LON:SAV) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Savannah Resources (LON:SAV)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 6 and traded as high as GBX 7.20. Savannah Resources shares last traded at GBX 7.10, with a volume of 3,516,833 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 1,300 target price on shares of Savannah Resources in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “speculative buy” rating and set a GBX 13 price target on shares of Savannah Resources in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Savannah Resources has an average rating of “Buy” and an average target price of GBX 656.50.

Savannah Resources Price Performance

The stock has a market cap of £182.76 million, a price-to-earnings ratio of -39.44 and a beta of 0.70. The stock’s 50 day moving average price is GBX 6 and its two-hundred day moving average price is GBX 4.98. 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 (LON:SAV) last released its quarterly earnings data on Thursday, April 16th. The company reported GBX (0.18) earnings per share for the quarter. Equities research analysts forecast 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.