Savannah Resources (LON:SAV) Shares Cross Below 200 Day Moving Average – Time to Sell?

Savannah Resources (LON:SAV)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5.84 and traded as low as GBX 5.70. Savannah Resources shares last traded at GBX 5.90, with a volume of 210,569 shares traded.

Analyst Upgrades and Downgrades

SAV has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “speculative buy” rating and issued a GBX 13 target price on shares of Savannah Resources in a research note on Friday, May 15th. Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 13 price target on shares of Savannah Resources in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 13.

Savannah Resources Trading Down 1.7%

The company has a 50 day moving average of GBX 5.99 and a 200 day moving average of GBX 5.84. The firm has a market cap of £151.90 million, a price-to-earnings ratio of -32.77 and a beta of 0.74. The company has a current ratio of 5.60, a quick ratio of 13.42 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.