Savannah Resources (LON:SAV) Trading Down 9.1% - Should You Sell?

Key Points

• Shares of Savannah Resources fell by 9.1% to GBX 4.20 ($0.06), reflecting a significant drop from its previous closing of GBX 4.62.
• Analysts at Canaccord Genuity have maintained a "speculative buy" rating on the stock with a target price of GBX 8, compared to the average industry rating of "Buy."
• Savannah Resources reported a loss of GBX (0.07) earnings per share for the last quarter, with analysts predicting an EPS of 3.39 for the current year.

Shares of Savannah Resources (LON:SAV - Get Free Report) were down 9.1% on Thursday . The company traded as low as GBX 4.20 ($0.06) and last traded at GBX 4.20 ($0.06). Approximately 2,064,814 shares were traded during trading, a decline of 28% from the average daily volume of 2,853,416 shares. The stock had previously closed at GBX 4.62 ($0.06).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 8 target price on shares of Savannah Resources in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Savannah Resources has an average rating of "Buy" and a consensus target price of GBX 8.

Savannah Resources Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 9.15 and a quick ratio of 13.42. The company has a market cap of £103.92 million, a PE ratio of -2,142.86 and a beta of 1.25. The stock has a 50 day simple moving average of GBX 3.89 and a two-hundred day simple moving average of GBX 4.18.

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. Equities analysts predict that Savannah Resources will post 3.3898305 EPS for the current 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.

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