Savannah Resources (LON:SAV) Trading 11.4% Higher – Time to Buy?

Savannah Resources (LON:SAV) rose 11.4% during mid-day trading on Friday . The company traded as high as GBX 3.90 and last traded at GBX 3.90. Approximately 704,602 shares changed hands during trading, a decline of 74% from the average daily volume of 2,738,728 shares. The stock had previously closed at GBX 3.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 8 price target on shares of Savannah Resources in a research note on Monday, September 15th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 8.

Savannah Resources Stock Up 7.0%

The company has a market cap of £86.46 million, a P/E ratio of -21.27 and a beta of 1.25. The company has a quick ratio of 13.42, a current ratio of 9.15 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of GBX 4.21 and a 200 day moving average of GBX 4.02.

Savannah Resources (LON:SAV) last posted its earnings results on Wednesday, September 24th. The company reported GBX (0.07) earnings per share for the quarter. On average, research analysts anticipate that Savannah Resources will post 3.3898305 earnings per share for the current fiscal year.

Savannah Resources Company Profile

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.