Savannah Resources (LON:SAV) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Savannah Resources (LON:SAV)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 3.71 and traded as high as GBX 4. Savannah Resources shares last traded at GBX 3.88, with a volume of 1,843,636 shares traded.

Wall Street Analysts Forecast Growth

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

Savannah Resources Stock Performance

The firm has a market capitalization of £124.85 million, a P/E ratio of -27.56 and a beta of 1.25. The company has a 50-day simple moving average of GBX 3.73 and a two-hundred day simple moving average of GBX 3.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15.

Insider Activity

In other Savannah Resources news, insider Emanuel Proença bought 235,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average cost of GBX 3 per share, for a total transaction of £7,050. 27.60% of the stock is currently owned by corporate insiders.

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. 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.