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

Sylvania Platinum Limited (LON:SLP)’s share price crossed 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 changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank lifted their price objective 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, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 169.

Sylvania Platinum Price Performance

The stock’s 50 day simple moving average is GBX 99.61 and its 200-day simple moving average is GBX 100.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.30 and a quick ratio of 15.92. The stock has a market capitalization of £271.77 million, a price-to-earnings ratio of 7.54, a PEG ratio of 0.05 and a beta of 1.77.

Sylvania Platinum declared that its board has approved a stock buyback plan on Monday, March 23rd that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Sylvania Platinum

In other news, insider Johannes Jacobus Prinsloo sold 205,750 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of GBX 126, for a total value of £259,245. Also, insider Eileen Carr bought 25,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was purchased at an average cost of GBX 81 per share, for a total transaction of £20,250. Insiders own 4.80% of the company’s stock.

Sylvania Platinum Company Profile

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.