Sovereign Metals (LON:SVML) Stock Price Up 1.3% – Still a Buy?

Sovereign Metals Limited (LON:SVML)’s share price rose 1.3% on Monday . The stock traded as high as GBX 36 ($0.47) and last traded at GBX 35.45 ($0.46). Approximately 30,212 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 75,682 shares. The stock had previously closed at GBX 35 ($0.46).

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 55 ($0.72) price target on shares of Sovereign Metals in a research note on Wednesday, September 4th.

Sovereign Metals Stock Performance

The company has a 50 day simple moving average of GBX 33.65 and a 200 day simple moving average of GBX 31.46. The company has a market capitalization of £209.96 million, a PE ratio of -1,750.00 and a beta of 0.94.

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.