Savannah Resources (LON:SAV) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Savannah Resources (LON:SAV)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 4.43 ($0.06) and traded as low as GBX 3.65 ($0.05). Savannah Resources shares last traded at GBX 3.75 ($0.05), with a volume of 969,556 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 9 ($0.12) target price on shares of Savannah Resources in a research note on Tuesday, May 6th.

Savannah Resources Price Performance

The stock has a market cap of £81.28 million, a PE ratio of -33.77 and a beta of 1.25. The company has a current ratio of 9.15, a quick ratio of 13.42 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is GBX 4.47 and its 200-day moving average is GBX 4.43.

Savannah Resources (LON:SAV) last released its quarterly earnings results on Thursday, April 10th. The company reported GBX (0.22) ($0.00) earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that Savannah Resources will post 3.3898305 earnings per share for the current year.

Savannah Resources Company Profile

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.