Canaccord Genuity Group Issues Positive Forecast for Savannah Resources (LON:SAV) Stock Price

Savannah Resources (LON:SAV) had its price objective hoisted by Canaccord Genuity Group from GBX 8 to GBX 11 in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage currently has a speculative buy rating on the stock.

Savannah Resources Trading Up 2.5%

Shares of Savannah Resources stock opened at GBX 5 on Tuesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 3.49 and a quick ratio of 13.42. The firm has a fifty day moving average price of GBX 4.88 and a 200 day moving average price of GBX 4.30. Savannah Resources has a 1 year low of GBX 3.10 and a 1 year high of GBX 5.70. The stock has a market cap of £128.71 million, a PE ratio of -28.41 and a beta of 0.53.

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.