Sylvania Platinum (LON:SLP) Stock Passes Above 200-Day Moving Average – Here’s Why

Sylvania Platinum Limited (LON:SLP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 100.93 and traded as high as GBX 107. Sylvania Platinum shares last traded at GBX 105, with a volume of 542,029 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sylvania Platinum Stock Performance

The firm has a fifty day moving average price of GBX 99.61 and a 200 day moving average price of GBX 100.93. The company has a current ratio of 5.30, a quick ratio of 15.92 and a debt-to-equity ratio of 0.36. The firm has a market cap of £271.77 million, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.05 and a beta of 1.77.

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

Insider Transactions at Sylvania Platinum

In other news, insider Eileen Carr bought 25,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were bought at an average price of GBX 81 per share, with a total value of £20,250. Also, insider Martin Preece acquired 65,100 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased 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

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.