Sylvania Platinum (LON:SLP) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Sylvania Platinum Limited (LON:SLPGet Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 101.72 and traded as high as GBX 103.20. Sylvania Platinum shares last traded at GBX 98.50, with a volume of 337,023 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank upped their price objective on shares of Sylvania Platinum from GBX 166 to GBX 169 and gave the stock a “buy” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 169.

Get Our Latest Report on Sylvania Platinum

Sylvania Platinum Price Performance

The company has a quick ratio of 15.92, a current ratio of 5.30 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is GBX 98.48 and its 200 day simple moving average is GBX 101.85. The firm has a market capitalization of £256.24 million, a P/E ratio of 7.11, a PEG ratio of 0.05 and a beta of 1.77.

Sylvania Platinum declared that its Board of Directors has approved a share repurchase plan on Monday, March 23rd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Sylvania Platinum

In other Sylvania Platinum news, insider Johannes Jacobus Prinsloo sold 349,250 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of GBX 126, for a total transaction of £440,055. Also, insider Martin Preece purchased 65,100 shares of Sylvania Platinum stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of GBX 84 per share, for a total transaction of £54,684. Company insiders own 4.80% of the company’s stock.

About Sylvania Platinum

(Get Free Report)

Sylvania Platinum is a rapidly expanding low-cost PGMs producer listed on the London Stock Exchange’s Alternative Investment Market (AIM: SLP).

Sylvania is a mid-tier, lower unit cost Platinum Group Metal (PGM)minerals reprocessing and development Company. Our operational arm, Sylvania Dump Operations (SDO), has six chrome beneficiation and PGM processing plants in the Eastern and Western limb of the Bushveld Igneous Complex (BIC).

A pioneer in chrome tailings reprocessing, Sylvania treats a combination of current and historical chrome tailings at our host mine sites.

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