Sylvania Platinum (LON:SLP) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Sylvania Platinum Limited (LON:SLP)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 99.54 and traded as low as GBX 98. Sylvania Platinum shares last traded at GBX 98, with a volume of 570,552 shares trading hands.

Analyst Ratings Changes

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

Sylvania Platinum Price Performance

The business has a 50 day moving average price of GBX 102.83 and a two-hundred day moving average price of GBX 99.54. The stock has a market cap of £254.25 million, a PE ratio of 7.04, a P/E/G ratio of 0.05 and a beta of 1.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 15.92 and a current ratio of 5.30.

Sylvania Platinum declared that its Board of Directors has initiated a stock repurchase program on Monday, March 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Sylvania Platinum

In other Sylvania Platinum news, insider Johannes Jacobus Prinsloo sold 205,750 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of GBX 126, for a total transaction of £259,245. Also, insider Eileen Carr purchased 25,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of GBX 81 per share, with a total value of £20,250. Company insiders own 4.80% of the company’s stock.

About Sylvania Platinum

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.