Savannah Resources (LON:SAV) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Savannah Resources (LON:SAV) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 5.71 and traded as high as GBX 6. Savannah Resources shares last traded at GBX 5.70, with a volume of 5,444,320 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 13 price objective on shares of Savannah Resources in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “speculative buy” rating and set a GBX 13 target price on shares of Savannah Resources in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Savannah Resources has a consensus rating of “Buy” and an average price target of GBX 13.

Savannah Resources Stock Down 3.5%

The stock’s fifty day moving average is GBX 6.35 and its 200 day moving average is GBX 5.71. 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 company has a market capitalization of £141.65 million, a P/E ratio of -30.56 and a beta of 0.76.

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.