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

Key Points

• Canaccord Genuity Group reiterated a "Speculative Buy" rating on Savannah Resources with a GBX 11 target, implying roughly a 100% upside from the stock's previous close.
• The shares were trading at GBX 5.50 (near the 52-week high of GBX 5.70) with a market cap of £141.58m, indicating the broker target is well above the stock's recent trading range.
• Savannah reported quarterly EPS of GBX (0.18) and shows a negative P/E (-31.25), while carrying a debt-to-equity of 1.38 but strong liquidity ratios (current 5.60, quick 13.42).

Savannah Resources (LON:SAV - Get Free Report)'s stock had its "speculative buy" rating restated by stock analysts at Canaccord Genuity Group in a report issued on Tuesday,Digital Look reports. They currently have a GBX 11 price objective on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 100.00% from the stock's previous close.

Savannah Resources Stock Performance

Shares of LON:SAV remained flat at GBX 5.50 during trading on Tuesday. 5,324,356 shares of the company's stock traded hands, compared to its average volume of 6,651,915. The firm's fifty day simple moving average is GBX 4.98 and its 200 day simple moving average is GBX 4.43. The stock has a market cap of £141.58 million, a P/E ratio of -31.25 and a beta of 0.89. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.60 and a quick ratio of 13.42. Savannah Resources has a fifty-two week low of GBX 3.10 and a fifty-two week high of GBX 5.70.

Savannah Resources (LON:SAV - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The company reported GBX (0.18) EPS for the quarter. As a group, equities analysts expect that Savannah Resources will post 3.3898305 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.