Sylvania Platinum (LON:SLP) Price Target Raised to GBX 169 at Berenberg Bank

Key Points

• Price target raised: Berenberg Bank increased its Sylvania Platinum target to GBX 169 (from GBX 166) and kept a "buy" rating, implying roughly a 49.9% upside from the stock's current level.
• Share repurchase announced: The board initiated a share buyback plan on March 23, though the filing oddly shows an authorization of $0.00; buybacks are typically interpreted as a signal the board considers the shares undervalued.
• Notable insider activity: Insider Johannes Jacobus Prinsloo sold 205,750 shares at GBX 126 while insider Eileen Carr bought 25,000 shares at GBX 81, and insiders now own about 4.8% of the company.

Sylvania Platinum (LON:SLP - Get Free Report) had its price objective upped by investment analysts at Berenberg Bank from GBX 166 to GBX 169 in a research note issued to investors on Friday,London Stock Exchange reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target would indicate a potential upside of 49.89% from the company's current price.

Sylvania Platinum Price Performance

SLP stock opened at GBX 112.75 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92. The business has a 50 day simple moving average of GBX 101.23 and a 200-day simple moving average of GBX 100.04. The firm has a market capitalization of £291.82 million, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.05 and a beta of 1.77. Sylvania Platinum has a 1 year low of GBX 45 and a 1 year high of GBX 130.

Sylvania Platinum announced that its board has initiated a share repurchase plan on Monday, March 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Johannes Jacobus Prinsloo sold 205,750 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of GBX 126, for a total value of £259,245. Also, insider Eileen Carr acquired 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average price of GBX 81 per share, for a total transaction of £20,250. Company insiders own 4.80% of the company's stock.

Sylvania Platinum Company Profile

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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