Sovereign Metals (LON:SVML) Stock Price Up 1.9%

Shares of Sovereign Metals Limited (LON:SVML) rose 1.9% during trading on Wednesday . The stock traded as high as GBX 27.60 ($0.35) and last traded at GBX 27 ($0.34). Approximately 4,462 shares traded hands during trading, a decline of 93% from the average daily volume of 63,716 shares. The stock had previously closed at GBX 26.50 ($0.33).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 42 ($0.53) price target on shares of Sovereign Metals in a research note on Wednesday, January 31st.

Sovereign Metals Price Performance

The company has a market cap of £152.01 million, a price-to-earnings ratio of -2,600.00 and a beta of 0.97. The stock has a 50-day moving average price of GBX 24.82 and a 200 day moving average price of GBX 24.06.

Sovereign Metals Company Profile

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.