Savannah Resources (LON:SAV) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Savannah Resources (LON:SAV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4.26 ($0.06) and traded as low as GBX 3.30 ($0.04). Savannah Resources shares last traded at GBX 3.38 ($0.04), with a volume of 409,802 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 9 ($0.12) price objective on shares of Savannah Resources in a research report on Tuesday, May 6th.

Savannah Resources Stock Performance

The firm’s fifty day moving average price is GBX 3.63 and its 200 day moving average price is GBX 4.26. The firm has a market cap of £73.26 million, a P/E ratio of -30.44 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15.

About Savannah Resources

Savannah Resources Plc explores for and develops mineral properties. It holds interests in Mutamba heavy mineral sands project in Mozambique; copper and gold projects in the Sultanate of Oman; and lithium projects located in Somero and Eräjärvi in Finland. Savannah Resources also has a 75% stake in the Mina do Barroso Project in northern Portugal.