Sovereign Metals (LON:SVML) Sets New 52-Week High – Should You Buy?

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

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 55 ($0.70) price objective on shares of Sovereign Metals in a research report on Wednesday, September 4th.

Sovereign Metals Stock Up 2.6 %

The firm has a market cap of £233.95 million, a price-to-earnings ratio of -2,000.00 and a beta of 0.94. The company has a 50 day moving average of GBX 35.57 and a 200 day moving average of GBX 33.53.

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.