Empire Metals (LON:EEE) Shares Up 13% – Time to Buy?

Empire Metals Limited (LON:EEE)’s share price traded up 13% during trading on Thursday . The company traded as high as GBX 37.18 and last traded at GBX 36.17. 4,091,687 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 2,793,133 shares. The stock had previously closed at GBX 32.

Analyst Ratings Changes

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

Empire Metals Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 22.12 and a quick ratio of 20.03. The company has a market cap of £255.92 million, a PE ratio of -371.13 and a beta of 2.42. The company has a 50-day moving average price of GBX 38.87 and a two-hundred day moving average price of GBX 41.73.

Empire Metals Company Profile

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.