Savannah Resources (LON:SAV) Stock Price Down 8.4% – Here’s What Happened

Savannah Resources (LON:SAV)’s share price dropped 8.4% during mid-day trading on Monday . The company traded as low as GBX 4.90 and last traded at GBX 5.04. 20,169,457 shares were traded during mid-day trading, an increase of 269% from the average daily volume of 5,467,378 shares. The stock had previously closed at GBX 5.50.

Wall Street Analysts Forecast Growth

SAV has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “speculative buy” rating and issued a GBX 13 price objective on shares of Savannah Resources in a research note on Friday, May 15th. Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 13 target price on shares of Savannah Resources in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Savannah Resources presently has a consensus rating of “Buy” and a consensus price target of GBX 13.

Savannah Resources Stock Performance

The firm has a market capitalization of £129.73 million, a price-to-earnings ratio of -27.98 and a beta of 0.76. The company has a current ratio of 5.60, a quick ratio of 13.42 and a debt-to-equity ratio of 1.38. The stock’s 50-day moving average is GBX 6.35 and its 200-day moving average is GBX 5.71.

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.