Sylvania Platinum (LON:SLP) Shares Pass Below 200 Day Moving Average – Here’s Why

Sylvania Platinum Limited (LON:SLP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 95.84 and traded as low as GBX 91. Sylvania Platinum shares last traded at GBX 93.50, with a volume of 554,610 shares traded.

Analysts Set New Price Targets

SLP has been the topic of several analyst reports. Royal Bank Of Canada lowered Sylvania Platinum to an “outperform” rating and reduced their price target for the stock from GBX 170 to GBX 165 in a report on Monday, August 3rd. Berenberg Bank dropped their price objective on shares of Sylvania Platinum from GBX 174 to GBX 162 and set a “buy” rating for the company in a report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Sylvania Platinum has a consensus rating of “Buy” and a consensus target price of GBX 163.50.

Sylvania Platinum Stock Up 1.1%

The firm has a 50-day moving average of GBX 85.52 and a two-hundred day moving average of GBX 95.70. The company has a quick ratio of 15.92, a current ratio of 5.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of £245.88 million, a PE ratio of 6.82, a price-to-earnings-growth ratio of 0.05 and a beta of 1.67.

About Sylvania Platinum

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.