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Savannah Resources (LON:SAV) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

Savannah Resources logo with Basic Materials background

Key Points

  • Savannah Resources' share price has dropped below its 200-day moving average, trading at GBX 3.38 ($0.04) compared to the average of GBX 4.26 ($0.06).
  • Analyst firm Canaccord Genuity has maintained a "speculative buy" rating on the stock with a price target of GBX 9 ($0.12).
  • The company has a market cap of £73.26 million and operates various mineral projects across multiple countries including Mozambique and Portugal.
  • Interested in Savannah Resources? Here are five stocks we like better.

Shares of Savannah Resources (LON:SAV - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4.26 ($0.06) and traded as low as GBX 3.30 ($0.04). Savannah Resources shares last traded at GBX 3.38 ($0.04), with a volume of 409,802 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 9 ($0.12) price objective on shares of Savannah Resources in a research report on Tuesday, May 6th.

View Our Latest Analysis on SAV

Savannah Resources Stock Performance

The firm's fifty day moving average price is GBX 3.63 and its 200 day moving average price is GBX 4.26. The firm has a market cap of £73.26 million, a P/E ratio of -30.44 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15.

About Savannah Resources

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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