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

Shares of Sylvania Platinum Limited (LON:SLP) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 99.87 and traded as low as GBX 97.40. Sylvania Platinum shares last traded at GBX 103.40, with a volume of 1,251,611 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 166 price target on shares of Sylvania Platinum in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Sylvania Platinum has an average rating of “Buy” and a consensus price target of GBX 166.

Sylvania Platinum Stock Performance

The company has a market capitalization of £277.59 million, a P/E ratio of 7.68, 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 current ratio of 5.30 and a quick ratio of 15.92. The stock’s 50 day simple moving average is GBX 101.40 and its two-hundred day simple moving average is GBX 99.87.

Sylvania Platinum declared that its Board of Directors has authorized a share buyback program on Monday, March 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Sylvania Platinum 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 value of £440,055. Also, insider Martin Preece bought 65,100 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was bought at an average cost of GBX 84 per share, with a total value of £54,684. 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.