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

Key Points

• Savannah Resources' share price has recently crossed above its 50-day moving average of GBX 4.11, reaching a high of GBX 4.50 during trading.
• Canaccord Genuity reissued a "speculative buy" rating for Savannah Resources, with a target price of GBX 8, while the average analyst rating remains "Buy."
• The company has a strong financial position with a quick ratio of 13.42 and a current ratio of 9.15, despite reporting a quarterly EPS of GBX (0.07).

Savannah Resources (LON:SAV - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 4.11 ($0.05) and traded as high as GBX 4.50 ($0.06). Savannah Resources shares last traded at GBX 4.25 ($0.06), with a volume of 3,473,567 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 8 price objective on shares of Savannah Resources in a research note on Monday, September 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of GBX 8.

Savannah Resources Trading Up 3.5%

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 firm's 50-day simple moving average is GBX 4.11 and its 200 day simple moving average is GBX 4.15. The stock has a market capitalization of £101.61 million, a P/E ratio of -2,500.00 and a beta of 1.25.

Savannah Resources (LON:SAV - Get Free Report) last issued its quarterly earnings results on Wednesday, September 24th. The company reported GBX (0.07) EPS for the quarter. Equities research analysts anticipate that Savannah Resources will post 3.3898305 EPS 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.

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