Empire Metals (LON:EEE) Trading 1.1% Higher – Here’s Why

Shares of Empire Metals Limited (LON:EEE) were up 1.1% on Monday . The company traded as high as GBX 50 and last traded at GBX 48.90. 2,661,882 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 2,165,400 shares. The stock had previously closed at GBX 48.35.

Analysts Set New Price Targets

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

Empire Metals Stock Performance

The stock has a market cap of £360.67 million, a price-to-earnings ratio of -94.04 and a beta of 2.17. The company has a quick ratio of 20.03, a current ratio of 15.45 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of GBX 38.56 and a 200 day simple moving average of GBX 35.67.

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.