Sylvania Platinum (LON:SLP) Insider Buys £54,684 in Stock

Key Points

• Martin Preece, an insider, purchased 65,100 shares of Sylvania Platinum on March 23 at GBX 84 per share, a total value of £54,684.
• The company's Board authorized a stock repurchase program allowing open-market buybacks, a move that typically signals the board views the shares as undervalued.
• Berenberg Bank raised its price target to GBX 130 and issued a "Buy" rating; the stock's consensus rating and average target are currently "Buy" and GBX 130.

Sylvania Platinum Limited (LON:SLP - Get Free Report) insider Martin Preece purchased 65,100 shares of the company's stock in a transaction on Monday, March 23rd. The stock was purchased at an average price of GBX 84 per share, with a total value of £54,684.

Sylvania Platinum Stock Performance

Shares of LON SLP opened at GBX 89.40 on Tuesday. The stock has a market cap of £232.56 million, a PE ratio of 6.42, a price-to-earnings-growth ratio of 0.05 and a beta of 0.39. Sylvania Platinum Limited has a 1 year low of GBX 41.25 and a 1 year high of GBX 130. The firm has a fifty day moving average price of GBX 111.11 and a 200-day moving average price of GBX 97.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92.

Sylvania Platinum declared that its Board of Directors has authorized a stock repurchase program on Monday, March 23rd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised their price target on Sylvania Platinum from GBX 127 to GBX 130 and gave the company a "buy" rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of GBX 130.

About Sylvania Platinum

Sylvania Platinum is a rapidly expanding low-cost PGMs producer listed on the London Stock Exchange's Alternative Investment Market AIM: SLP. Sylvania is a mid-tier, lower unit cost Platinum Group Metal (PGM)minerals reprocessing and development Company. Our operational arm, Sylvania Dump Operations (SDO), has six chrome beneficiation and PGM processing plants in the Eastern and Western limb of the Bushveld Igneous Complex (BIC). A pioneer in chrome tailings reprocessing, Sylvania treats a combination of current and historical chrome tailings at our host mine sites.

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