Sovereign Metals’ (SVML) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Sovereign Metals (LON:SVML) in a report published on Wednesday morning, Marketbeat.com reports. Berenberg Bank currently has a GBX 55 ($0.72) price objective on the stock.

Sovereign Metals Price Performance

Shares of Sovereign Metals stock opened at GBX 35.10 ($0.46) on Wednesday. Sovereign Metals has a 1-year low of GBX 20 ($0.26) and a 1-year high of GBX 41 ($0.54). The company’s fifty day simple moving average is GBX 34.40 and its 200-day simple moving average is GBX 29.48. The stock has a market capitalization of £197.61 million, a PE ratio of -2,600.00 and a beta of 1.01.

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.