Sovereign Metals (LON:SVML) Trading Up 13.2%

Sovereign Metals Limited (LON:SVML) was up 13.2% during trading on Monday . The company traded as high as GBX 37 ($0.50) and last traded at GBX 36.35 ($0.49). Approximately 194,120 shares traded hands during mid-day trading, an increase of 161% from the average daily volume of 74,439 shares. The stock had previously closed at GBX 32.10 ($0.43).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 55 ($0.74) price objective on shares of Sovereign Metals in a research note on Wednesday, September 4th.

Sovereign Metals Price Performance

The company has a market capitalization of £215.60 million, a price-to-earnings ratio of -2,600.00 and a beta of 0.94. The business’s 50 day simple moving average is GBX 33.26 and its 200 day simple moving average is GBX 30.27.

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.