Savannah Resources (LON:SAV) Trading Up 15.4% – Time to Buy?

Shares of Savannah Resources (LON:SAV) shot up 15.4% on Friday . The stock traded as high as GBX 4.51 and last traded at GBX 4.39. 6,694,266 shares changed hands during mid-day trading, an increase of 148% from the average session volume of 2,700,969 shares. The stock had previously closed at GBX 3.80.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 8 target price on shares of Savannah Resources in a report on Monday, September 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 8.

Savannah Resources Price Performance

The company has a market capitalization of £124.85 million, a price-to-earnings ratio of -27.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15. The business has a 50 day moving average price of GBX 3.73 and a 200-day moving average price of GBX 3.84.

Insiders Place Their Bets

In other Savannah Resources news, insider Emanuel Proença purchased 235,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were purchased at an average cost of GBX 3 per share, with a total value of £7,050. Insiders own 27.60% of the company’s stock.

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. 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.