Savannah Resources (LON:SAV) Receives Speculative Buy Rating from Canaccord Genuity Group

Savannah Resources (LON:SAV)‘s stock had its “speculative buy” rating reiterated by equities researchers at Canaccord Genuity Group in a research report issued on Thursday,London Stock Exchange reports. They presently have a GBX 8 price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 66.67% from the stock’s previous close.

Savannah Resources Stock Up 0.2%

Shares of SAV traded up GBX 0.01 during midday trading on Thursday, reaching GBX 4.80. 7,180,970 shares of the company were exchanged, compared to its average volume of 10,774,946. Savannah Resources has a 1-year low of GBX 3.10 and a 1-year high of GBX 5.70. The stock has a 50-day moving average price of GBX 3.78 and a 200-day moving average price of GBX 3.87. The company has a current ratio of 9.15, a quick ratio of 13.42 and a debt-to-equity ratio of 0.17. The company has a market cap of £123.56 million, a price-to-earnings ratio of -27.27 and a beta of 1.25.

Insiders Place Their Bets

In other news, insider Emanuel Proença acquired 235,000 shares of the stock in a transaction on Friday, November 21st. The stock was bought at an average price of GBX 3 per share, with a total value 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.