Base Resources (LON:BSE) Share Price Passes Above 50-Day Moving Average – Here’s Why

Base Resources Limited (LON:BSE) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 12.10 ($0.15) and traded as high as GBX 12.30 ($0.16). Base Resources shares last traded at GBX 12.30 ($0.16), with a volume of 207,313 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank decreased their target price on Base Resources from GBX 15 ($0.19) to GBX 13 ($0.16) and set a “hold” rating for the company in a research report on Tuesday, August 27th.

Base Resources Stock Up 6.0 %

The company has a quick ratio of 3.81, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The stock has a market cap of £143.91 million, a P/E ratio of -387.50 and a beta of 0.61. The company’s 50 day moving average price is GBX 12.10 and its two-hundred day moving average price is GBX 12.90.

About Base Resources

Base Resources Limited operates as mineral sand developer and producer in Africa. It operates through Kwale Operation, Toliara Project, and Other segments. The company produces mineral sands, such as rutile, ilmenite, and zircon. It primarily owns a 100% interest in the Kwale Mineral Sands project located in Kenya; and develops the Toliara project located in Madagascar.