Savannah Resources (LON:SAV) Shares Down 9% - Here's Why

Key Points

• Savannah Resources shares fell 9% during trading, closing at GBX 3.78 ($0.05), down from a previous close of GBX 4.15 ($0.06).
• The company has a market capitalization of £87.69 million and exhibits a PE ratio of -1,808.10.
• Savannah Resources is involved in mineral exploration with interests in projects located in Mozambique, Oman, and Portugal.

Savannah Resources (LON:SAV - Get Free Report)'s stock price traded down 9% during trading on Thursday . The stock traded as low as GBX 3.78 ($0.05) and last traded at GBX 3.78 ($0.05). 2,470,056 shares traded hands during trading, a decline of 6% from the average session volume of 2,632,768 shares. The stock had previously closed at GBX 4.15 ($0.06).

Savannah Resources Stock Performance

The company has a 50-day simple moving average of GBX 3.63 and a two-hundred day simple moving average of GBX 4.17. 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 firm has a market cap of £96.19 million, a PE ratio of -1,983.33 and a beta of 1.25.

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.