Sovereign Metals (LON:SVML) Hits New 12-Month High at $38.80

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 38.80 ($0.49) and last traded at GBX 35.65 ($0.45), with a volume of 234217 shares. The stock had previously closed at GBX 33.50 ($0.42).

Analysts Set New Price Targets

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

Sovereign Metals Stock Performance

The stock has a market cap of £200.71 million, a PE ratio of -2,600.00 and a beta of 0.97. The business has a 50 day moving average price of GBX 29.51 and a two-hundred day moving average price of GBX 25.94.

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.