Sovereign Metals (LON:SVML) Trading 9.1% Higher – What’s Next?

Sovereign Metals Limited (LON:SVML)’s share price traded up 9.1% on Wednesday . The stock traded as high as GBX 39 ($0.51) and last traded at GBX 38.20 ($0.50). 8,160 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 74,289 shares. The stock had previously closed at GBX 35 ($0.45).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 55 ($0.71) price objective on shares of Sovereign Metals in a research note on Wednesday, September 4th.

Sovereign Metals Stock Up 2.9 %

The firm has a market cap of £234.55 million, a price-to-earnings ratio of -1,945.00 and a beta of 0.94. The business has a 50 day moving average of GBX 34.36 and a 200 day moving average of GBX 32.30.

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.