Empire Metals (LON:EEE) Shares Down 3.7% – Time to Sell?

Empire Metals Limited (LON:EEE)’s stock price traded down 3.7% during trading on Friday . The stock traded as low as GBX 36 and last traded at GBX 36.40. 3,770,972 shares changed hands during trading, an increase of 19% from the average session volume of 3,164,864 shares. The stock had previously closed at GBX 37.80.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 62 price objective on shares of Empire Metals in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Empire Metals has a consensus rating of “Buy” and an average price target of GBX 62.

Empire Metals Price Performance

The company has a 50-day simple moving average of GBX 39.14 and a 200-day simple moving average of GBX 40.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.31 and a quick ratio of 20.03. The stock has a market cap of £258.77 million, a PE ratio of -375.26 and a beta of 1.80.

Insider Transactions at Empire Metals

In other news, insider Peter Damouni acquired 89,335 shares of Empire Metals stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of GBX 28 per share, with a total value of £25,013.80. Also, insider Gregory Kuenzel ACA bought 125,000 shares of the stock in a transaction on Friday, November 14th. The stock was purchased at an average cost of GBX 30 per share, for a total transaction of £37,500. Insiders have bought 301,335 shares of company stock valued at $8,774,380 in the last quarter. 5.10% of the stock is currently owned by corporate insiders.

About Empire Metals

Empire Metals is an exploration and resource development company with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates.