Sovereign Metals (LON:SVML) Trading Up 1.3% – Time to Buy?

Sovereign Metals Limited (LON:SVML) shares were up 1.3% during trading on Wednesday . The stock traded as high as GBX 40 ($0.51) and last traded at GBX 40 ($0.51). Approximately 1,656 shares changed hands during trading, a decline of 98% from the average daily volume of 72,387 shares. The stock had previously closed at GBX 39.50 ($0.50).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and set a GBX 55 ($0.70) price objective on shares of Sovereign Metals in a research report on Wednesday, September 4th.

Sovereign Metals Trading Up 1.3 %

The firm has a market cap of £239.95 million, a P/E ratio of -2,000.00 and a beta of 0.94. The stock has a 50 day simple moving average of GBX 37.81 and a 200-day simple moving average of GBX 34.90.

About Sovereign Metals

Sovereign Metals Limited, together with its subsidiaries, engages in the exploration, development, and appraisal of mineral resource projects in Malawi. Its flagship project is the Kasiya rutile deposit in Malawi. Sovereign Metals Limited was incorporated in 2006 and is headquartered in Perth, Australia.