Empire Metals (LON:EEE) Shares Down 2.1% – Here’s What Happened

Empire Metals Limited (LON:EEE)’s stock price was down 2.1% during mid-day trading on Thursday. The stock traded as low as GBX 33.15 and last traded at GBX 33.69. Approximately 2,324,968 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 2,161,530 shares. The stock had previously closed at GBX 34.40.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 62 target price on shares of Empire Metals in a research note on Thursday, September 24th. One analyst has rated the stock with a Buy rating. According to MarketBeat, Empire Metals presently has an average rating of “Buy” and a consensus price target of GBX 62.

Empire Metals Stock Up 0.6%

The company has a debt-to-equity ratio of 0.22, a current ratio of 37.87 and a quick ratio of 20.03. The business’s 50 day simple moving average is GBX 39.75 and its 200 day simple moving average is GBX 37.28. The company has a market capitalization of £249.30 million, a PE ratio of -64.75 and a beta of 2.17.

Empire Metals (LON:EEE) last posted its quarterly earnings results on Thursday, August 27th. The company reported GBX (0.26) earnings per share 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.