Sylvania Platinum (LON:SLP) Sets New 52-Week High - Still a Buy?

Key Points

• Shares of Sylvania Platinum Limited reached a new 52-week high of GBX 82 ($1.11) during trading, closing last at GBX 77.60 ($1.05) with a trading volume of over 1.4 million shares.
• Berenberg Bank has lowered its price target for the stock from GBX 93 to GBX 90 but still maintains a "buy" rating, contributing to an average target price of GBX 90 from analysts.
• Sylvania Platinum, a mid-tier low-cost PGM producer, operates six chrome beneficiation and PGM processing plants in the Bushveld Igneous Complex.

Sylvania Platinum Limited (LON:SLP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 82 ($1.11) and last traded at GBX 77.60 ($1.05), with a volume of 1413978 shares. The stock had previously closed at GBX 77.60 ($1.05).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their price target on shares of Sylvania Platinum from GBX 93 to GBX 90 and set a "buy" rating on the stock in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 90.

Sylvania Platinum Stock Performance

The firm's 50 day simple moving average is GBX 74.18 and its 200-day simple moving average is GBX 61.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 15.92 and a current ratio of 9.94. The company has a market capitalization of £202.89 million, a price-to-earnings ratio of 1,852.73, a P/E/G ratio of 0.05 and a beta of 0.38.

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).