Base Resources (LON:BSE) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Base Resources Limited (LON:BSE) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 12.25 ($0.16) and traded as low as GBX 11.50 ($0.15). Base Resources shares last traded at GBX 12.30 ($0.16), with a volume of 207,313 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reduced their price objective on shares of Base Resources from GBX 15 ($0.19) to GBX 13 ($0.17) and set a “hold” rating on the stock in a research note on Tuesday, August 27th.

Base Resources Trading Up 6.0 %

The stock has a market capitalization of £143.91 million, a P/E ratio of -387.50 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 3.81. The business’s 50 day simple moving average is GBX 12.08 and its 200-day simple moving average is GBX 12.25.

About Base Resources

Base Resources Limited operates as mineral sand developer and producer in Africa. It operates through Kwale Operation, Toliara Project, and Other segments. The company produces mineral sands, such as rutile, ilmenite, and zircon. It primarily owns a 100% interest in the Kwale Mineral Sands project located in Kenya; and develops the Toliara project located in Madagascar.