Savannah Resources’ (SAV) “Speculative Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their speculative buy rating on shares of Savannah Resources (LON:SAV) in a report released on Thursday, MarketBeat reports. The firm currently has a GBX 8 price target on the stock.

Savannah Resources Stock Performance

Shares of Savannah Resources stock opened at GBX 4.80 on Thursday. The stock’s 50 day simple moving average is GBX 3.82 and its 200-day simple moving average is GBX 3.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 9.15 and a quick ratio of 13.42. The stock has a market cap of £123.56 million, a P/E ratio of -27.27 and a beta of 1.25. Savannah Resources has a 1-year low of GBX 3.10 and a 1-year high of GBX 5.70.

Insider Transactions at Savannah Resources

In other news, insider Emanuel Proença purchased 235,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of GBX 3 per share, for a total transaction of £7,050. 27.60% of the stock is currently owned by insiders.

Savannah Resources Company Profile

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.