Sovereign Metals (ASX:SVM) Trading 12.5% Higher

Sovereign Metals Limited (ASX:SVM) shares traded up 12.5% on Thursday . The company traded as high as A$0.14 ($0.10) and last traded at A$0.14 ($0.10), 1,183,930 shares changed hands during mid-day trading. An increase of 184% from the average session volume of 416,973 shares. The stock had previously closed at A$0.12 ($0.09).

The firm has a market cap of $48.50 million and a P/E ratio of -6.43. The company’s fifty day moving average price is A$0.11.

About Sovereign Metals (ASX:SVM)

Sovereign Metals Limited, together with its subsidiaries, engages in the identification, exploration, development, and appraisal of mineral resource projects in Australia and Malawi. The company holds 100% interests in the Central Malawi graphite project, which consists of the Malingunde saprolite-hosted graphite project and the Duwi Flake graphite project located in Malawi.

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