Eastern Platinum (TSE:ELR) Shares Down 12.5% – What’s Next?

Shares of Eastern Platinum Limited (TSE:ELR) traded down 12.5% during mid-day trading on Friday . The company traded as low as C$0.36 and last traded at C$0.42. Approximately 595,071 shares changed hands during mid-day trading, an increase of 108% from the average daily volume of 285,645 shares. The stock had previously closed at C$0.48.

Eastern Platinum Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.48 and a debt-to-equity ratio of 113.44. The firm has a market capitalization of C$82.40 million, a price-to-earnings ratio of -4.00 and a beta of 3.08. The company’s 50 day moving average is C$0.36 and its 200-day moving average is C$0.43.

Eastern Platinum (TSE:ELR) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.04) earnings per share for the quarter. The business had revenue of C$11.32 million for the quarter. Eastern Platinum had a negative return on equity of 31.80% and a negative net margin of 34.25%. Equities research analysts anticipate that Eastern Platinum Limited will post -0.11 earnings per share for the current year.

About Eastern Platinum

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy’s Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore. Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates, respectively.