Sovereign Metals Limited (LON:SVML – Get Rating) shares rose 4% during trading on Tuesday . The company traded as high as GBX 28.90 ($0.34) and last traded at GBX 28.70 ($0.34). Approximately 88,508 shares changed hands during trading, The stock had previously closed at GBX 27.60 ($0.33).
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank boosted their price target on shares of Sovereign Metals from GBX 75 ($0.89) to GBX 84 ($0.99) and gave the stock a “buy” rating in a research report on Thursday, October 6th.
Sovereign Metals Stock Performance
The company has a 50-day moving average of GBX 23.36 and a 200 day moving average of GBX 25.84. The firm has a market cap of £131.85 million and a P/E ratio of -18.67.
About Sovereign Metals
Sovereign Metals Limited, together with its subsidiaries, engages in the identification, exploration, development, and appraisal of mineral resource projects in Malawi. Its flagship project is the Kasiya rutile deposit in Malawi. The company was incorporated in 2006 and is headquartered in Perth, Australia.
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