Savannah Resources (LON:SAV) Shares Down 6.7% – Here’s Why

Shares of Savannah Resources (LON:SAV – Get Free Report) dropped 6.7% during mid-day trading on Tuesday . The company traded as low as GBX 7 and last traded at GBX 7. Approximately 16,304,612 shares traded hands during mid-day trading, an increase of 134% from the average daily volume of 6,960,159 shares. The stock had previously closed at GBX 7.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 11 price target on shares of Savannah Resources in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 11.

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Savannah Resources Stock Down 1.2%

The firm has a market cap of £170.41 million, a P/E ratio of -36.78 and a beta of 0.70. The business’s fifty day moving average price is GBX 5.34 and its two-hundred day moving average price is GBX 4.64. The company has a current ratio of 5.60, a quick ratio of 13.42 and a debt-to-equity ratio of 1.38.

Savannah Resources (LON:SAV – Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The company reported GBX (0.18) earnings per share for the quarter. As a group, equities research analysts anticipate that Savannah Resources will post 3.3898305 EPS for the current year.

Savannah Resources Company Profile

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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. The company was formerly known as African Mining and Exploration plc and changed its name to Savannah Resources Plc in September 2013. Savannah Resources Plc was incorporated in 2010 and is based in London, the United Kingdom.

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