Sovereign Metals (LON:SVML) Sets New 12-Month High – Time to Buy?

Shares of Sovereign Metals Limited (LON:SVML) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 41 ($0.52) and last traded at GBX 39 ($0.49), with a volume of 161503 shares trading hands. The stock had previously closed at GBX 38 ($0.48).

Analyst Upgrades and Downgrades

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

Sovereign Metals Price Performance

The company has a market cap of £251.89 million, a price-to-earnings ratio of -2,150.00 and a beta of 0.94. The stock has a 50-day moving average price of GBX 36 and a 200 day moving average price of GBX 33.62.

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.