Sovereign Metals (LON:SVML) Shares Up 2.5% – Here’s What Happened

Sovereign Metals Limited (LON:SVML) shares traded up 2.5% on Thursday . The company traded as high as GBX 39 ($0.49) and last traded at GBX 38.95 ($0.49). 176,553 shares traded hands during mid-day trading, an increase of 133% from the average session volume of 75,788 shares. The stock had previously closed at GBX 38 ($0.47).

Sovereign Metals Price Performance

The firm’s 50 day simple moving average is GBX 38.48 and its 200-day simple moving average is GBX 36.09. The company has a market cap of £231.49 million, a price-to-earnings ratio of -1,929.50 and a beta of 0.94.

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.