Savannah Resources (LON:SAV) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Savannah Resources (LON:SAV)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 5.81 and traded as low as GBX 5.80. Savannah Resources shares last traded at GBX 5.84, with a volume of 600,927 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 13 price objective on shares of Savannah Resources in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “speculative buy” rating and set a GBX 13 price target on shares of Savannah Resources in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 13.

Savannah Resources Stock Up 1.5%

The firm has a market cap of £152.72 million, a P/E ratio of -32.94 and a beta of 0.74. The stock’s 50 day simple moving average is GBX 6.02 and its 200 day simple moving average is GBX 5.81. The company has a debt-to-equity ratio of 1.38, a quick ratio of 13.42 and a current ratio of 5.60.

About Savannah Resources

Savannah Resources Plc explores for and develops mineral properties. It holds interests in Mutamba heavy mineral sands project in Mozambique; copper and gold projects in the Sultanate of Oman; and lithium projects located in Somero and Eräjärvi in Finland. Savannah Resources also has a 75% stake in the Mina do Barroso Project in northern Portugal. The company was formerly known as African Mining and Exploration plc and changed its name to Savannah Resources Plc in September 2013. Savannah Resources Plc was incorporated in 2010 and is based in London, the United Kingdom.