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

Savannah Resources (LON:SAV - Get Free Report)'s share price dropped 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 were traded 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).

Analyst Ratings Changes

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

Savannah Resources Stock Performance

The business has a 50-day moving average price of GBX 3.98 and a 200-day moving average price of 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. The company has a quick ratio of 13.42, a current ratio of 9.15 and a debt-to-equity ratio of 0.17.

Savannah Resources (LON:SAV - Get Free Report) last issued its quarterly earnings results on Thursday, April 10th. The company reported GBX (0.22) ($0.00) earnings per share (EPS) for the quarter. As a group, sell-side analysts forecast that Savannah Resources will post 3.3898305 earnings per share for the current year.

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.