Sovereign Metals Limited (LON:SVML – Get Rating) shot up 4% during trading on Tuesday . The stock traded as high as GBX 28.90 ($0.34) and last traded at GBX 28.70 ($0.34). 88,508 shares changed hands during trading, The stock had previously closed at GBX 27.60 ($0.33).
Analysts Set New Price Targets
Separately, Berenberg Bank upped their target price on Sovereign Metals from GBX 75 ($0.89) to GBX 84 ($0.99) and gave the stock a “buy” rating in a research report on Thursday, October 6th.
Sovereign Metals Price Performance
The business’s fifty day moving average price is GBX 23.36 and its 200-day moving average price is GBX 25.84. The stock has a market capitalization of £131.85 million and a price-to-earnings ratio of -18.67.
About Sovereign Metals
Sovereign Metals Limited, together with its subsidiaries, engages in the identification, exploration, development, and appraisal of mineral resource projects in Malawi. Its flagship project is the Kasiya rutile deposit in Malawi. The company was incorporated in 2006 and is headquartered in Perth, Australia.
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