Sylvania Platinum (LON:SLP) Board Initiates Share Buyback Plan

Sylvania Platinum (LON:SLP) announced that its Board of Directors has approved a share buyback plan on Monday, March 23rd, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Sylvania Platinum Price Performance

SLP opened at GBX 84.27 on Tuesday. Sylvania Platinum has a 1 year low of GBX 41.25 and a 1 year high of GBX 130. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92. The company has a market capitalization of £219.21 million, a price-to-earnings ratio of 6.05, a P/E/G ratio of 0.05 and a beta of 0.39. The firm’s fifty day moving average price is GBX 111.11 and its two-hundred day moving average price is GBX 97.54.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Johannes Jacobus Prinsloo sold 349,250 shares of the business’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 £440,055. Company insiders own 4.80% of the company’s stock.

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.