Empire Metals (LON:EEE) Trading Up 3.8% – Time to Buy?

Empire Metals Limited (LON:EEE) shares shot up 3.8% during mid-day trading on Friday . The stock traded as high as GBX 40 and last traded at GBX 38.40. 1,270,425 shares were traded during trading, a decline of 74% from the average session volume of 4,795,272 shares. The stock had previously closed at GBX 37.

Empire Metals Stock Performance

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 £272.98 million, a price-to-earnings ratio of -395.88 and a beta of 1.80. The firm has a fifty day moving average of GBX 37.07 and a 200 day moving average of GBX 36.74.

Insider Activity

In other news, insider Peter Damouni purchased 89,335 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average price of GBX 28 per share, with a total value of £25,013.80. Also, insider Neil O’Brien purchased 87,000 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of GBX 29 per share, with a total value of £25,230. In the last quarter, insiders have bought 301,335 shares of company stock valued at $8,774,380. 5.10% of the stock is currently owned by 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.