Savannah Resources (LON:SAV) Sets New 52-Week High – Here’s What Happened

Shares of Savannah Resources (LON:SAV) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 6.40 and last traded at GBX 6.24, with a volume of 3068878 shares. The stock had previously closed at GBX 6.20.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 11 price objective on shares of Savannah Resources in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Savannah Resources currently has an average rating of “Buy” and a consensus target price of GBX 11.

Savannah Resources Price Performance

The company’s 50-day moving average price is GBX 5.09 and its two-hundred day moving average price is GBX 4.51. The company has a market cap of £160.63 million, a P/E ratio of -34.67 and a beta of 0.55. The company has a current ratio of 5.60, a quick ratio of 13.42 and a debt-to-equity ratio of 1.38.

Savannah Resources (LON:SAV) last released its earnings results on Thursday, April 16th. The company reported GBX (0.18) earnings per share for the quarter. As a group, sell-side analysts expect that Savannah Resources will post 3.3898305 earnings per share for the current year.

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.