Savannah Resources (LON:SAV) Trading Down 2.7% - Here's What Happened

Key Points

• Savannah Resources shares fell 2.7% to close at GBX 3.60 ($0.05) amid lower trading volume, with about 266,949 shares changing hands compared to an average of 2,776,411.
• Analysts at Canaccord Genuity Group maintained a "speculative buy" rating with a price target of GBX 9 ($0.12) for Savannah Resources.
• The company has a market cap of £78.03 million, a P/E ratio of -32.42, and holds significant mineral properties across Mozambique, Oman, Finland, and Portugal.

Savannah Resources (LON:SAV - Get Free Report)'s share price was down 2.7% during mid-day trading on Friday . The stock traded as low as GBX 3.20 ($0.04) and last traded at GBX 3.60 ($0.05). Approximately 266,949 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 2,776,411 shares. The stock had previously closed at GBX 3.70 ($0.05).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued 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 stock has a market cap of £78.03 million, a P/E ratio of -32.42 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. The company's fifty day simple moving average is GBX 3.73 and its 200-day simple moving average is GBX 4.29.

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.

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