Tharisa (LON:THS) Shares Down 8.9% - Here's What Happened

Tharisa plc (LON:THS - Get Free Report) dropped 8.9% during trading on Monday . The company traded as low as GBX 54 ($0.73) and last traded at GBX 56 ($0.76). Approximately 215,796 shares traded hands during trading, an increase of 39% from the average daily volume of 155,624 shares. The stock had previously closed at GBX 61.50 ($0.83).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 130 ($1.76) target price on shares of Tharisa in a research report on Thursday, April 10th.

Tharisa Stock Up 4.8%

The company has a current ratio of 1.84, a quick ratio of 1.80 and a debt-to-equity ratio of 14.70. The firm has a market cap of £238.73 million, a PE ratio of 3.02 and a beta of 0.90. The business's 50-day simple moving average is GBX 57.45 and its 200 day simple moving average is GBX 61.41.

Tharisa Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a dividend yield of 3.71%. This is an increase from Tharisa's previous dividend of $0.02. Tharisa's payout ratio is presently 9.15%.

Tharisa Company Profile

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.