Base Resources (LON:BSE) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Base Resources Limited (LON:BSE)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 12.67 ($0.16) and traded as low as GBX 11.50 ($0.15). Base Resources shares last traded at GBX 12.30 ($0.16), with a volume of 207,313 shares trading hands.

Wall Street Analysts Forecast Growth

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 research note on Tuesday, August 27th.

Base Resources Stock Up 6.0 %

The stock has a market capitalization of £143.91 million, a P/E ratio of -387.50 and a beta of 0.61. The firm’s 50-day simple moving average is GBX 12.14 and its 200 day simple moving average is GBX 12.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.81 and a current ratio of 2.35.

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.