Savannah Resources (LON:SAV) Shares Pass Below 200-Day Moving Average – Here’s Why

Shares of Savannah Resources (LON:SAV) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 4.38 ($0.06) and traded as low as GBX 3.40 ($0.05). Savannah Resources shares last traded at GBX 3.40 ($0.05), with a volume of 1,191,610 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 9 ($0.12) target price on shares of Savannah Resources in a report on Tuesday, May 6th.

Savannah Resources Price Performance

The firm has a market capitalization of £75.87 million, a PE ratio of -31.52 and a beta of 1.25. The company has a fifty day moving average price of GBX 4.07 and a 200-day moving average price of GBX 4.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15.

Savannah Resources (LON:SAV) last released its quarterly earnings results on Thursday, April 10th. The company reported GBX (0.22) ($0.00) earnings per share (EPS) for the quarter. As a group, analysts expect that Savannah Resources will post 3.3898305 earnings per share for the current year.

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.