Sovereign Metals (LON:SVML) Shares Down 2.1%

Sovereign Metals Limited (LON:SVML)’s share price fell 2.1% on Tuesday . The stock traded as low as GBX 23.30 ($0.29) and last traded at GBX 23.50 ($0.29). 42,668 shares were traded during trading, a decline of 39% from the average session volume of 70,516 shares. The stock had previously closed at GBX 24 ($0.30).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and set a GBX 42 ($0.52) target price on shares of Sovereign Metals in a research note on Wednesday, January 31st.

Sovereign Metals Price Performance

The firm’s 50-day moving average price is GBX 24 and its 200 day moving average price is GBX 23.57. The firm has a market cap of £132.31 million, a P/E ratio of -2,600.00 and a beta of 0.97.

Sovereign Metals Company Profile

Sovereign Metals Limited, together with its subsidiaries, engages in the exploration, development, and appraisal of mineral resource projects in Malawi. Its flagship project is the Kasiya rutile deposit in Malawi. Sovereign Metals Limited was incorporated in 2006 and is headquartered in Perth, Australia.