Sylvania Platinum (LON:SLP) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Sylvania Platinum's shares have recently crossed above their 200-day moving average of GBX 57.48, reaching a high of GBX 77 during trading.
• Analysts from Berenberg Bank have reaffirmed a "buy" rating for Sylvania Platinum, setting a price target of GBX 93 ($1.26).
• The company's market capitalization is £244.62 million, and it operates six chrome beneficiation and PGM processing plants in South Africa.

Shares of Sylvania Platinum Limited (LON:SLP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 57.48 ($0.78) and traded as high as GBX 77 ($1.04). Sylvania Platinum shares last traded at GBX 75.80 ($1.03), with a volume of 298,811 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 93 ($1.26) price target on shares of Sylvania Platinum in a research report on Tuesday, July 29th.

Sylvania Platinum Stock Performance

The business has a 50-day moving average price of GBX 71.30 and a 200-day moving average price of GBX 57.48. The firm has a market capitalization of £244.62 million, a price-to-earnings ratio of 35.52, a P/E/G ratio of 0.05 and a beta of 0.38. The company has a quick ratio of 15.92, a current ratio of 9.94 and a debt-to-equity ratio of 0.35.

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).

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