Sylvania Platinum (LON:SLP) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Sylvania Platinum Limited (LON:SLP) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 98.04 and traded as low as GBX 89. Sylvania Platinum shares last traded at GBX 89.60, with a volume of 1,296,879 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their price target on shares of Sylvania Platinum from GBX 127 to GBX 130 and gave the company a “buy” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 130.

Sylvania Platinum Stock Up 4.9%

The company has a quick ratio of 15.92, a current ratio of 5.30 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of GBX 107.99 and a 200-day simple moving average of GBX 98.04. The company has a market cap of £244.53 million, a PE ratio of 6.75, a P/E/G ratio of 0.05 and a beta of 0.39.

Sylvania Platinum declared that its Board of Directors has initiated a share repurchase plan on Monday, March 23rd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Sylvania Platinum

In related news, insider Martin Preece acquired 65,100 shares of Sylvania Platinum stock in a transaction on Monday, March 23rd. The stock was bought at an average cost of GBX 84 per share, for a total transaction of £54,684. Also, insider Johannes Jacobus Prinsloo sold 205,750 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of GBX 126, for a total transaction of £259,245. 4.80% of the stock is owned by corporate insiders.

Sylvania Platinum Company Profile

Sylvania Platinum is a rapidly expanding low-cost PGMs producer listed on the London Stock Exchange’s Alternative Investment Market (AIM: SLP).

Sylvania is a mid-tier, lower unit cost Platinum Group Metal (PGM)minerals reprocessing and development Company. Our operational arm, Sylvania Dump Operations (SDO), has six chrome beneficiation and PGM processing plants in the Eastern and Western limb of the Bushveld Igneous Complex (BIC).

A pioneer in chrome tailings reprocessing, Sylvania treats a combination of current and historical chrome tailings at our host mine sites.