Sylvania Platinum (LON:SLP) Stock Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Sylvania Platinum Limited (LON:SLP) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 94.68 and traded as low as GBX 86.75. Sylvania Platinum shares last traded at GBX 86.75, with a volume of 552,341 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on SLP shares. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 175 price objective on shares of Sylvania Platinum in a research report on Thursday, June 4th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 174 price target on shares of Sylvania Platinum in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Sylvania Platinum presently has a consensus rating of “Buy” and a consensus price target of GBX 174.50.

Sylvania Platinum Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 15.92 and a current ratio of 5.30. The stock has a market cap of £228.54 million, a P/E ratio of 6.34, a P/E/G ratio of 0.05 and a beta of 1.76. The business’s 50-day moving average price is GBX 94.68 and its 200-day moving average price is GBX 102.31.

Sylvania Platinum declared that its board has approved a share repurchase plan on Monday, March 23rd that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.