Savannah Resources (LON:SAV) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Savannah Resources shares recently crossed above their fifty-day moving average during trading, reaching a high of GBX 4.50 ($0.06) before last trading at GBX 4.35 ($0.06).
• Analyst Canaccord Genuity Group has reissued a "speculative buy" rating for Savannah Resources, with an average target price of GBX 8.
• The company has a market capitalization of £100.46 million and operates multiple mineral projects, including a significant lithium project in Portugal.

Savannah Resources (LON:SAV - Get Free Report) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 3.86 ($0.05) and traded as high as GBX 4.50 ($0.06). Savannah Resources shares last traded at GBX 4.35 ($0.06), with a volume of 1,822,797 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 8 price target on shares of Savannah Resources in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Savannah Resources has a consensus rating of "Buy" and an average target price of GBX 8.

Savannah Resources Stock Performance

The company has a quick ratio of 13.42, a current ratio of 9.15 and a debt-to-equity ratio of 0.17. The company has a market capitalization of £100.46 million, a PE ratio of -2,071.43 and a beta of 1.25. The stock's fifty day simple moving average is GBX 3.86 and its 200-day simple moving average is GBX 4.18.

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.

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