Sovereign Metals (LON:SVML) Trading 13.2% Higher

Sovereign Metals Limited (LON:SVML) shares traded up 13.2% during mid-day trading on Monday . The stock traded as high as GBX 37 ($0.49) and last traded at GBX 36.35 ($0.48). 194,120 shares were traded during mid-day trading, an increase of 161% from the average session volume of 74,439 shares. The stock had previously closed at GBX 32.10 ($0.42).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 55 ($0.73) price target on shares of Sovereign Metals in a research note on Wednesday, September 4th.

Sovereign Metals Price Performance

The company has a fifty day moving average of GBX 33.34 and a 200-day moving average of GBX 30.09. The firm has a market cap of £217.76 million, a P/E ratio of -2,600.00 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.