Base Resources (LON:BSE) Stock Price Up 6% – Here’s Why

Base Resources Limited (LON:BSE)’s share price shot up 6% during trading on Tuesday . The company traded as high as GBX 12.30 ($0.16) and last traded at GBX 12.30 ($0.16). 207,313 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 253,862 shares. The stock had previously closed at GBX 11.60 ($0.15).

Analysts Set New Price Targets

Separately, Berenberg Bank decreased their price target on shares of Base Resources from GBX 15 ($0.20) to GBX 13 ($0.17) and set a “hold” rating for the company in a report on Tuesday, August 27th.

Base Resources Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.81 and a current ratio of 2.35. The firm has a market capitalization of £143.91 million, a PE ratio of -387.50 and a beta of 0.61. The firm’s 50 day moving average price is GBX 12.13 and its 200-day moving average price is GBX 12.07.

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.