Empire Metals (LON:EEE) Trading 9.3% Higher – Time to Buy?

Empire Metals Limited (LON:EEE)’s share price shot up 9.3% during mid-day trading on Monday . The company traded as high as GBX 45.75 and last traded at GBX 44.80. Approximately 4,073,367 shares were traded during mid-day trading, an increase of 82% from the average daily volume of 2,240,967 shares. The stock had previously closed at GBX 41.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 62 target price on shares of Empire Metals in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Empire Metals presently has a consensus rating of “Buy” and a consensus target price of GBX 62.

Empire Metals Price Performance

The stock has a market capitalization of £330.43 million, a PE ratio of -86.15 and a beta of 2.20. The company has a current ratio of 15.45, a quick ratio of 20.03 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average price of GBX 34.56 and a 200-day moving average price of GBX 35.71.

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.