Eastern Platinum (TSE:ELR) Shares Up 6% – Here’s Why

Eastern Platinum Limited (TSE:ELR)’s share price shot up 6% during mid-day trading on Tuesday . The stock traded as high as C$0.55 and last traded at C$0.53. 376,574 shares were traded during trading, a decline of 34% from the average session volume of 572,715 shares. The stock had previously closed at C$0.50.

Eastern Platinum Price Performance

The firm has a 50-day simple moving average of C$0.51 and a two-hundred day simple moving average of C$0.34. The company has a market capitalization of C$113.95 million, a price-to-earnings ratio of -5.09 and a beta of 2.33. The company has a current ratio of 0.64, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48.

Eastern Platinum (TSE:ELR) last posted its earnings results on Friday, November 14th. The company reported C($0.01) EPS for the quarter. Eastern Platinum had a return on equity of 0.88% and a net margin of 1.09%.The company had revenue of C$19.14 million for the quarter. As a group, analysts predict that Eastern Platinum Limited will post -0.11 earnings per share for the current fiscal year.

About Eastern Platinum

Eastern Platinum Ltd. is engaged in mining, exploration, and development of platinum group metal (PGM) and chrome properties located in various provinces in South Africa. The firm’s projects include Crocodile River Mine and Mareesburg.