Sylvania Platinum's (SLP) "Buy" Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank reiterated a Buy rating on Sylvania Platinum with a GBX 166 price target, implying roughly a 71.13% upside from the stock's prior close.
• The Board authorized a stock buyback program (the report lists the repurchase authorization as $0.00), and insiders were active: Martin Preece bought 65,100 shares at GBX 84 while Johannes Jacobus Prinsloo sold 349,250 shares at GBX 126; insiders own 4.80%.
• Shares opened at GBX 97 and trade in a 1‑year range of GBX 45–130; the company has a market cap of £251.65m, a P/E of 6.96 and a PEG of 0.05.

Sylvania Platinum (LON:SLP - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Berenberg Bank in a report issued on Wednesday,Digital Look reports. They currently have a GBX 166 price target on the stock. Berenberg Bank's price target suggests a potential upside of 71.13% from the stock's previous close.

Sylvania Platinum Price Performance

Shares of LON SLP opened at GBX 97 on Wednesday. Sylvania Platinum has a 1-year low of GBX 45 and a 1-year high of GBX 130. The business has a 50-day moving average of GBX 102.46 and a 200-day moving average of GBX 99.66. 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 company has a market capitalization of £251.65 million, a price-to-earnings ratio of 6.96, a PEG ratio of 0.05 and a beta of 1.77.

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

Insider Buying and Selling

In other Sylvania Platinum news, insider Martin Preece purchased 65,100 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of GBX 84 per share, for a total transaction of £54,684. Also, insider Johannes Jacobus Prinsloo sold 349,250 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of GBX 126, for a total value of £440,055. Insiders own 4.80% of the company's stock.

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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