Savannah Resources (LON:SAV) Shares Down 7.2% - Time to Sell?

Savannah Resources (LON:SAV - Get Free Report)'s stock price was down 7.2% on Wednesday . The company traded as low as GBX 3.20 ($0.04) and last traded at GBX 3.20 ($0.04). Approximately 3,759,921 shares changed hands during trading, an increase of 30% from the average daily volume of 2,893,406 shares. The stock had previously closed at GBX 3.45 ($0.05).

Wall Street Analysts Forecast Growth

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

Savannah Resources Price 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 stock's 50-day moving average price is GBX 4.01 and its 200 day moving average price is GBX 4.36. The firm has a market capitalization of £69.80 million, a price-to-earnings ratio of -29.00 and a beta of 1.25.

Savannah Resources (LON:SAV - Get Free Report) last announced its earnings results on Thursday, April 10th. The company reported GBX (0.22) ($0.00) earnings per share for the quarter. Equities research 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.