Sovereign Metals (LON:SVML) Stock Price Up 2.5% – Here’s What Happened

Shares of Sovereign Metals Limited (LON:SVML) were up 2.5% during trading on Wednesday . The stock traded as high as GBX 37 ($0.46) and last traded at GBX 36.90 ($0.46). Approximately 56,952 shares changed hands during trading, a decline of 21% from the average daily volume of 72,138 shares. The stock had previously closed at GBX 36 ($0.45).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 55 ($0.69) target price on shares of Sovereign Metals in a research report on Wednesday, September 4th.

Sovereign Metals Trading Up 2.5 %

The stock’s 50-day moving average price is GBX 38.33 and its 200-day moving average price is GBX 35.47. The company has a market cap of £221.36 million, a P/E ratio of -1,845.00 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.