Sylvania Platinum (LON:SLP) to Repurchase $0.00 in Outstanding Stock

Sylvania Platinum (LON:SLP) announced that its board has authorized a share repurchase program on Monday, March 23rd, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank increased their target price on Sylvania Platinum from GBX 127 to GBX 130 and gave the company a “buy” rating in a research report on Tuesday, January 27th. 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 target price of GBX 130.

Sylvania Platinum Stock Performance

Sylvania Platinum stock traded down GBX 2.13 during mid-day trading on Monday, reaching GBX 84.27. 3,954,308 shares of the company traded hands, compared to its average volume of 2,022,477. The firm’s fifty day moving average is GBX 111.11 and its two-hundred day moving average is GBX 97.54. The company has a market capitalization of £219.21 million, a price-to-earnings ratio of 6.05, a price-to-earnings-growth ratio of 0.05 and a beta of 0.39. Sylvania Platinum has a fifty-two week low of GBX 41.25 and a fifty-two week high of GBX 130. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92.

Insider Buying and Selling at Sylvania Platinum

In related news, insider Johannes Jacobus Prinsloo sold 205,750 shares of Sylvania Platinum stock in a transaction dated Friday, February 27th. The stock was sold at an average price of GBX 126, for a total transaction of £259,245. 4.80% of the stock is owned by company insiders.

Sylvania Platinum Company Profile

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.