Sovereign Metals (LON:SVML) Hits New 12-Month High – Here’s What Happened

Sovereign Metals Limited (LON:SVML) reached a new 52-week high during 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).

Analyst Ratings Changes

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

Sovereign Metals Trading Up 2.6 %

The company has a market cap of £233.95 million, a P/E ratio of -2,000.00 and a beta of 0.94. The company’s 50-day moving average price is GBX 35.57 and its two-hundred day moving average price is GBX 33.53.

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.