Savannah Resources (LON:SAV) Trading 0.5% Higher - Should You Buy?

Key Points

• Savannah Resources shares rose by 0.5% on Wednesday, reaching a last trade price of GBX 4.22 ($0.06), although trading volume dropped significantly by 51% compared to the average.
• Canaccord Genuity Group maintained a "speculative buy" rating on the stock, setting a target price of GBX 8, with an overall consensus rating of "Buy" from analysts.
• The company reported a loss of GBX (0.07) earnings per share for the most recent quarter, while analysts anticipate earnings of approximately 3.39 for the current fiscal year.

Shares of Savannah Resources (LON:SAV - Get Free Report) were up 0.5% during trading on Wednesday . The stock traded as high as GBX 4.62 ($0.06) and last traded at GBX 4.22 ($0.06). Approximately 1,396,756 shares traded hands during trading, a decline of 51% from the average daily volume of 2,857,679 shares. The stock had previously closed at GBX 4.20 ($0.06).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a "speculative buy" rating and issued a GBX 8 price objective on shares of Savannah Resources in a research note on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of GBX 8.

Savannah Resources Price Performance

The business has a 50-day moving average price of GBX 3.89 and a 200 day moving average price of GBX 4.18. The stock has a market cap of £97.46 million, a PE ratio of -2,009.52 and a beta of 1.25. The company has a current ratio of 9.15, a quick ratio of 13.42 and a debt-to-equity ratio of 0.17.

Savannah Resources (LON:SAV - Get Free Report) last announced its earnings results on Wednesday, September 24th. The company reported GBX (0.07) earnings per share for the quarter. As a group, research analysts forecast that Savannah Resources will post 3.3898305 earnings per share for the current fiscal 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.

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