Canaccord Genuity Group Reiterates Speculative Buy Rating for Savannah Resources (LON:SAV)

Key Points

• Canaccord Genuity Group reiterated a speculative buy on Savannah with a GBX 11 price target, implying roughly a 144.44% upside from current levels.
• Shares fell about 6.3% to GBX 4.50 on Monday with ~4.1M shares traded (vs. average ~7.16M); market cap ~£115.8M, negative P/E (-25.57) and 52-week range GBX 3.10–5.70.
• Savannah Resources explores and develops mineral projects, including the Mutamba heavy mineral sands (Mozambique), copper/gold projects (Oman), lithium assets in Finland, and a 75% stake in Mina do Barroso (Portugal).

Savannah Resources (LON:SAV - Get Free Report)'s stock had its "speculative buy" rating restated by stock analysts at Canaccord Genuity Group in a research note issued to investors on Monday,London Stock Exchange reports. They presently have a GBX 11 price target on the stock. Canaccord Genuity Group's price objective points to a potential upside of 144.44% from the stock's current price.

Savannah Resources Stock Down 6.3%

Shares of Savannah Resources stock traded down GBX 0.30 during trading hours on Monday, reaching GBX 4.50. 4,097,010 shares of the company's stock were exchanged, compared to its average volume of 7,164,423. The stock has a market cap of £115.84 million, a P/E ratio of -25.57 and a beta of 0.53. The company has a 50 day moving average of GBX 5.01 and a two-hundred day moving average of GBX 4.33. The company has a current ratio of 3.49, a quick ratio of 13.42 and a debt-to-equity ratio of 1.98. Savannah Resources has a fifty-two week low of GBX 3.10 and a fifty-two week high of GBX 5.70.

Savannah Resources Company Profile

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.

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