Savannah Resources (LON:SAV) Sets New 52-Week High - Here's What Happened

Key Points

• 52-week high: Savannah Resources hit a new 52-week high, trading as high as GBX 6.40 and last at GBX 6.24 on a volume of 3,068,878 shares (previous close GBX 6.20).
• Analyst sentiment is positive: Canaccord Genuity reiterated a "speculative buy" and set a GBX 11 target, and MarketBeat data shows a consensus Buy rating with a GBX 11 consensus target.
• Company fundamentals and operations: market cap £160.63 million with a negative P/E of -34.67 and last quarter EPS of GBX (0.18); Savannah explores and develops mineral projects in Mozambique, Oman, Finland and holds a 75% stake in the Mina do Barroso project in Portugal.

Savannah Resources (LON:SAV - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 6.40 and last traded at GBX 6.24, with a volume of 3068878 shares trading hands. The stock had previously closed at GBX 6.20.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 11 target price on shares of Savannah Resources in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Savannah Resources has a consensus rating of "Buy" and a consensus target price of GBX 11.

Savannah Resources Price Performance

The company has a debt-to-equity ratio of 1.38, a quick ratio of 13.42 and a current ratio of 5.60. The firm has a market cap of £160.63 million, a price-to-earnings ratio of -34.67 and a beta of 0.55. The company's fifty day moving average is GBX 5.09 and its two-hundred day moving average is GBX 4.51.

Savannah Resources (LON:SAV - Get Free Report) last posted its earnings results on Thursday, April 16th. The company reported GBX (0.18) earnings per share for the quarter. Equities research analysts forecast that Savannah Resources will post 3.3898305 EPS for the current 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.

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