Syrah Resources (ASX:SYR) Shares Cross Below 50 Day Moving Average of $0.54

Syrah Resources Ltd (ASX:SYR) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.54 and traded as low as $0.53. Syrah Resources shares last traded at $0.53, with a volume of 1,189,494 shares changing hands.

The company has a market capitalization of $219.09 million and a PE ratio of -1.74. The company has a current ratio of 4.23, a quick ratio of 3.42 and a debt-to-equity ratio of 3.32. The stock has a fifty day moving average of A$0.55 and a two-hundred day moving average of A$0.57.

About Syrah Resources (ASX:SYR)

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique. Its principal project is the Balama Graphite and Vanadium project located in the Cabo Delgado province of northern Mozambique. The company also produces spherical graphite through downstream strategy, which is used to manufacture anodes for lithium ion batteries; and natural graphite recarburisers that are used in the steel making and iron casting industries.

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