Could Savannah Resources Plc Change Direction After Reaching 52-Week High?

 Could Savannah Resources Plc Change Direction After Reaching 52 Week High?

The stock of Savannah Resources Plc (LON:SAV) hit a new 52-week high and has GBX 7.76 target or 72.00% above today’s GBX 4.51 share price. The 7 months bullish chart indicates low risk for the GBX 20.27 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the GBX 7.76 price target is reached, the company will be worth GBX 14.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.24% or GBX 0.01 on November 9, hitting GBX 4.51. About 1.79 million shares traded hands. Savannah Resources Plc (LON:SAV) has risen 97.80% since April 8, 2016 and is uptrending. It has outperformed by 93.02% the S&P500.

Savannah Resources Plc (LON:SAV) Ratings Coverage

Out of 5 analysts covering Savannah Resources (LON:SAV), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Savannah Resources has been the topic of 66 analyst reports since September 8, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, July 8 by Mirabaud. The firm has “Corporate” rating given on Thursday, May 26 by Northland Capital. The firm has “Corporate” rating by Northland Capital given on Monday, October 31. The stock of Savannah Resources Plc (LON:SAV) has “Buy” rating given on Friday, November 27 by Panmure Gordon. The stock has “Corporate” rating given by Northland Capital on Monday, September 12. The rating was maintained by Northland Capital on Tuesday, November 8 with “Corporate”. On Thursday, August 4 the stock rating was maintained by Northland Capital with “Corporate”. Beaufort Securities maintained Savannah Resources Plc (LON:SAV) on Thursday, June 2 with “Speculative Buy” rating. Northland Capital maintained the stock with “Corporate” rating in Friday, September 30 report. The rating was maintained by Beaufort Securities on Thursday, May 26 with “Speculative Buy”.

Savannah Resources Plc is a United Kingdom multi -commodity and multi-geographic development company. The company has a market cap of 20.27 million GBP. The Company’s principal activities include the exploration for copper in Oman and enhancement of the Company’s heavy mineral sands Project in Mozambique. It currently has negative earnings. The Company’s divisions include Oman Copper, Mozambique Mineral Sands, Headquarter administration and corporate, and Investments.

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