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Savannah Resources (LON:SAV) Shares Cross Below 200-Day Moving Average - Time to Sell?

Savannah Resources logo with Basic Materials background

Savannah Resources (LON:SAV - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 4.38 ($0.06) and traded as low as GBX 3.40 ($0.05). Savannah Resources shares last traded at GBX 3.40 ($0.05), with a volume of 1,191,610 shares trading hands.

Analysts Set New Price Targets

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

Get Our Latest Research Report on SAV

Savannah Resources Trading Down 7.2%

The stock's fifty day simple moving average is GBX 4.01 and its 200-day simple moving average is GBX 4.36. The firm has a market cap of £69.36 million, a PE ratio of -28.82 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.15 and a quick ratio of 13.42.

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

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.

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