Savannah Resources (LON:SAV) Price Target Raised to GBX 11 at Canaccord Genuity Group

Savannah Resources (LON:SAV) had its price objective lifted by research analysts at Canaccord Genuity Group from GBX 8 to GBX 11 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 120.00% from the company’s previous close.

Savannah Resources Stock Performance

Savannah Resources stock traded up GBX 0.12 during mid-day trading on Tuesday, reaching GBX 5. The company’s stock had a trading volume of 25,669,033 shares, compared to its average volume of 8,039,970. The firm’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 debt-to-equity ratio of 1.98, a quick ratio of 13.42 and a current ratio of 3.49. Savannah Resources has a 12-month low of GBX 3.10 and a 12-month high of GBX 5.70. The company has a market capitalization of £128.71 million, a P/E 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.