Savannah Resources (LON:SAV) Trading Down 7.2% - Here's Why

Shares of Savannah Resources (LON:SAV - Get Free Report) were down 7.2% on Wednesday . The stock 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).

Analysts Set New Price Targets

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

Savannah Resources Price Performance

The company's fifty day moving average is GBX 3.92 and its 200 day moving average is GBX 4.34. 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 has a market cap of £71.53 million, a PE ratio of -29.72 and a beta of 1.25.

Savannah Resources (LON:SAV - Get Free Report) last posted its quarterly earnings data 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 anticipate 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.