Savannah Resources (LON:SAV) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Savannah Resources (LON:SAV)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 5.71 and traded as high as GBX 6. Savannah Resources shares last traded at GBX 5.70, with a volume of 5,444,320 shares changing hands.

Analyst Upgrades and Downgrades

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

Savannah Resources Price Performance

The stock has a fifty day moving average of GBX 6.39 and a 200-day moving average of GBX 5.71. The firm has a market capitalization of £141.65 million, a P/E ratio of -30.56 and a beta of 0.76. The company has a quick ratio of 13.42, a current ratio of 5.60 and a debt-to-equity ratio of 1.38.

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.