Sylvania Platinum (LON:SLP) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Sylvania Platinum Limited (LON:SLP)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 102.23 and traded as low as GBX 93.53. Sylvania Platinum shares last traded at GBX 95, with a volume of 1,169,903 shares.

Analyst Ratings Changes

SLP has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 175 price target on shares of Sylvania Platinum in a report on Thursday. Berenberg Bank upped their price target on shares of Sylvania Platinum from GBX 166 to GBX 169 and gave the stock a “buy” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Sylvania Platinum currently has an average rating of “Buy” and a consensus price target of GBX 172.

Sylvania Platinum Trading Up 1.1%

The company has a quick ratio of 15.92, a current ratio of 5.30 and a debt-to-equity ratio of 0.36. The company has a market cap of £240.84 million, a P/E ratio of 6.68, a PEG ratio of 0.05 and a beta of 1.77. The firm’s 50 day moving average is GBX 99.16 and its two-hundred day moving average is GBX 102.32.

Sylvania Platinum announced that its Board of Directors has approved a share buyback plan on Monday, March 23rd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Martin Preece acquired 65,100 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of GBX 84 per share, for a total transaction of £54,684. Also, insider Eileen Carr acquired 25,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of GBX 81 per share, for a total transaction of £20,250. Corporate 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.