Key Points
- Insider purchase: Director Eileen Carr bought 25,000 Sylvania Platinum shares on March 23 at GBX 81 per share, a transaction totaling £20,250.
- Stock buyback announced: The board initiated a stock repurchase program on March 23 to buy shares via the open market, signaling management may view the shares as undervalued (amount not specified).
- Analyst upgrade: Berenberg raised its price target to GBX 130 and gave Sylvania a "Buy" rating, aligning with a consensus price target of GBX 130.
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Sylvania Platinum Limited (LON:SLP - Get Free Report) insider Eileen Carr acquired 25,000 shares of Sylvania Platinum stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of GBX 81 per share, for a total transaction of £20,250.
Sylvania Platinum Stock Up 3.4%
SLP opened at GBX 87.85 on Wednesday. Sylvania Platinum Limited has a 12 month low of GBX 41.25 and a 12 month high of GBX 130. The company has a current ratio of 5.30, a quick ratio of 15.92 and a debt-to-equity ratio of 0.36. The business's 50-day moving average price is GBX 110.63 and its 200-day moving average price is GBX 97.62. The company has a market cap of £228.53 million, a P/E ratio of 6.31, a P/E/G ratio of 0.05 and a beta of 0.39.
Sylvania Platinum declared that its board has initiated a stock repurchase program on Monday, March 23rd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Separately, Berenberg Bank boosted their price objective on Sylvania Platinum from GBX 127 to GBX 130 and gave the company a "buy" rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of GBX 130.
View Our Latest Analysis on Sylvania Platinum
About Sylvania Platinum
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Get Free Report)
Sylvania Platinum is a rapidly expanding low-cost PGMs producer listed on the London Stock Exchange's Alternative Investment Market (AIM: SLP).
Sylvania is a mid-tier, lower unit cost Platinum Group Metal (PGM)minerals reprocessing and development Company. Our operational arm, Sylvania Dump Operations (SDO), has six chrome beneficiation and PGM processing plants in the Eastern and Western limb of the Bushveld Igneous Complex (BIC).
A pioneer in chrome tailings reprocessing, Sylvania treats a combination of current and historical chrome tailings at our host mine sites.
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