Tharisa (LON:THS) Shares Down 2% - Here's What Happened

Key Points

• Tharisa plc shares fell by 2% on Wednesday, trading at GBX 98 ($1.31) down from a previous close of GBX 100 ($1.34), with an increase in trading volume of 53% to approximately 436,382 shares.
• Berenberg Bank has restated a "buy" rating on Tharisa shares, with a target price of GBX 200, reflecting a consensus rating of "Buy" from analysts.
• Tharisa operates as an integrated resource group focused on producing platinum group metals and chrome concentrates from its mine in South Africa, positioning itself as a low-cost producer through a vertical integrated structure.

Shares of Tharisa plc (LON:THS - Get Free Report) were down 2% on Wednesday . The company traded as low as GBX 97 ($1.30) and last traded at GBX 98 ($1.31). Approximately 436,382 shares traded hands during mid-day trading, an increase of 53% from the average daily volume of 284,420 shares. The stock had previously closed at GBX 100 ($1.34).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 200 target price on shares of Tharisa in a report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of GBX 200.

Tharisa Stock Down 2.0%

The company has a quick ratio of 1.80, a current ratio of 1.84 and a debt-to-equity ratio of 14.70. The company has a market capitalization of £288.29 million, a PE ratio of 5.83 and a beta of 0.90. The stock has a 50-day moving average of GBX 95.58 and a 200 day moving average of GBX 80.72.

About Tharisa

Tharisa Plc is an integrated resource group, dual listed in London and Johannesburg and produces platinum group metals and chrome concentrates from the Tharisa mine in South Africa. Uniquely positioned through its vertical structure incorporating processing, beneficiation, marketing, sales and logistics, Tharisa is a low cost producer, using technology and innovation to maximise stakeholder returns through exploitation of mineral resources in a responsible manner.

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