Emanuel Proença, an insider at Savannah Resources, has purchased 235,000 shares of the company for a total value of £7,050. The transaction took place on November 21, 2023, with the shares acquired at an average price of GBX 3 per share. This move highlights Proença’s confidence in the company’s future prospects.
Savannah Resources, listed on the London Stock Exchange under the ticker LON:SAV, opened at GBX 3.70 on the day of the transaction. Over the past year, the stock has shown notable volatility, reaching a low of GBX 3.10 and a high of GBX 5.70. Currently, the company maintains a market capitalization of £85.45 million, with a price-to-earnings (PE) ratio of -21.02. The stock’s beta stands at 1.25, indicating a higher volatility compared to the market average.
The financial health of Savannah Resources appears stable, demonstrated by a debt-to-equity ratio of 0.17. The company’s current ratio is 9.15, and its quick ratio is an impressive 13.42, suggesting robust liquidity. The moving averages provide further insights, with the 50-day moving average at GBX 4 and the 200-day moving average at GBX 3.89.
In a recent earnings report released on September 24, 2023, Savannah Resources reported an earnings per share (EPS) of GBX -0.07 for the quarter. Analysts project that the company will achieve an EPS of approximately 3.39 for the current fiscal year, reflecting a cautious optimism about its earnings potential.
About Savannah Resources
Savannah Resources Plc is actively engaged in the exploration and development of mineral properties. The company holds diverse interests across various regions, including the Mutamba heavy mineral sands project in Mozambique and copper and gold projects in the Sultanate of Oman. Additionally, it is involved in lithium projects located in Somero and Eräjärvi in Finland.
The company also has a significant stake in the Mina do Barroso Project located in northern Portugal, where it holds a 75% interest. This broad portfolio positions Savannah Resources to capitalize on the growing demand for minerals and resources in various global markets.
Investors and analysts continue to monitor Savannah Resources closely, given its strategic projects and recent insider buying activity, which may signal confidence in the company’s trajectory.
