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

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 62 price objective on shares of Empire Metals in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Empire Metals currently has an average rating of “Buy” and a consensus target price of GBX 62.

Empire Metals Price Performance

The stock has a fifty day moving average of GBX 41.46 and a two-hundred day moving average of GBX 36.69. The stock has a market capitalization of £278.80 million, a price-to-earnings ratio of -72.41 and a beta of 2.17. The company has a current ratio of 37.87, a quick ratio of 20.03 and a debt-to-equity ratio of 0.22.

Empire Metals (LON:EEE) last announced its earnings results on Thursday, August 27th. The company reported GBX (0.26) EPS 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.