Empire Metals (LON:EEE) Trading Up 1.2% – Here’s Why

Empire Metals Limited (LON:EEE) rose 1.2% during trading on Thursday . The company traded as high as GBX 38.45 and last traded at GBX 37.80. 587,728 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,250,053 shares. The stock had previously closed at GBX 37.35.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 62 target price on shares of Empire Metals in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 62.

Empire Metals Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 37.87 and a quick ratio of 20.03. The stock’s 50-day moving average price is GBX 41.46 and its 200 day moving average price is GBX 36.69. The firm has a market cap of £278.80 million, a P/E ratio of -72.41 and a beta of 2.17.

Empire Metals (LON:EEE) last posted its quarterly earnings results on Thursday, August 27th. The company reported GBX (0.26) earnings per share for the quarter.

About Empire Metals

Empire Metals Ltd (AIM: EEE and OTCQX: EPMLF) is an exploration and resource development company focused on the commercialisation of the Pitfield Titanium Project, located in Western Australia. The titanium discovery at Pitfield is of unprecedented scale and hosts one of the largest and highest-grade titanium resources reported globally, with a Mineral Resource Estimate (MRE) totalling 2.2 billion tonnes grading 5.1% TiO₂ for 113 million tonnes of contained TiO₂.

Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip.