Savannah Resources (LON:SAV) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Savannah Resources (LON:SAV) had its target price upped by equities research analysts at Canaccord Genuity Group from GBX 8 to GBX 11 in a research report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 120.00% from the company’s current price.

Savannah Resources Trading Up 2.5%

Shares of SAV traded up GBX 0.12 during trading hours on Tuesday, reaching GBX 5. 25,669,033 shares of the company traded hands, compared to its average volume of 8,039,970. Savannah Resources has a 12 month low of GBX 3.10 and a 12 month high of GBX 5.70. The company has a quick ratio of 13.42, a current ratio of 3.49 and a debt-to-equity ratio of 1.98. The company’s fifty day moving average price is GBX 4.85 and its two-hundred day moving average price is GBX 4.29. The company has a market capitalization of £128.71 million, a price-to-earnings ratio of -28.41 and a beta of 0.53.

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.