Sovereign Metals (LON:SVML) Trading Up 1.3% – Here’s Why

Sovereign Metals Limited (LON:SVML)’s share price shot up 1.3% during trading on Wednesday . The company traded as high as GBX 40 ($0.50) and last traded at GBX 40 ($0.50). 1,656 shares changed hands during trading, a decline of 98% from the average session volume of 72,387 shares. The stock had previously closed at GBX 39.50 ($0.50).

Wall Street Analysts Forecast Growth

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

Sovereign Metals Trading Down 2.5 %

The stock has a market cap of £236.95 million, a P/E ratio of -1,960.00 and a beta of 0.94. The business has a 50-day simple moving average of GBX 37.90 and a 200 day simple moving average of GBX 34.93.

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.