Base Resources (LON:BSE) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of Base Resources Limited (LON:BSE) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 12.10 ($0.15) and traded as high as GBX 12.30 ($0.16). Base Resources shares last traded at GBX 12.30 ($0.16), with a volume of 207,313 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank lowered their price objective on shares of Base Resources from GBX 15 ($0.19) to GBX 13 ($0.16) and set a “hold” rating for the company in a research report on Tuesday, August 27th.

Base Resources Price Performance

The firm 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 current ratio of 2.35, a quick ratio of 3.81 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of GBX 12.10 and a 200-day moving average price of GBX 12.90.

Base Resources Company Profile

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.