Sovereign Metals (LON:SVML) Trading Up 5.2%

Sovereign Metals Limited (LON:SVML)’s stock price was up 5.2% during mid-day trading on Monday . The stock traded as high as GBX 31 ($0.39) and last traded at GBX 30.50 ($0.39). Approximately 107,952 shares changed hands during trading, an increase of 67% from the average daily volume of 64,803 shares. The stock had previously closed at GBX 29 ($0.37).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 39 ($0.49) price objective on shares of Sovereign Metals in a research note on Wednesday, May 22nd.

Sovereign Metals Stock Up 5.2 %

The stock has a market cap of £171.72 million, a P/E ratio of -2,600.00 and a beta of 0.97. The business has a 50 day moving average price of GBX 28.61 and a two-hundred day moving average price of GBX 25.53.

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.