East Africa Metals (CVE:EAM) Stock Price Down 10.5% – What’s Next?

East Africa Metals Inc. (CVE:EAM) shares fell 10.5% on Tuesday. The stock traded as low as C$0.09 and last traded at C$0.09. 253,935 shares were traded during mid-day trading, an increase of 455% from the average session volume of 45,748 shares. The stock had previously closed at C$0.10.

East Africa Metals Stock Performance

The firm has a market cap of C$21.52 million, a price-to-earnings ratio of -1.33 and a beta of -0.32. The business’s 50-day moving average is C$0.08 and its 200-day moving average is C$0.09.

East Africa Metals Company Profile

East Africa Metals Inc, a mineral exploration company, focuses on the identification, acquisition, exploration, development, and sale of base and precious mineral resource properties in the Federal Democratic Republic of Ethiopia and the United Republic of Tanzania. The company primarily explores for gold, copper, silver, and zinc deposits. Its principal assets and interests include a 70% interest in the Harvest property, as well as 100% interest in the Adyabo project that comprises two exploration licenses covering 195 square kilometers situated in the Arabian Nubian Shield in northern Ethiopia; and an interest in the Handeni property comprising two mining licenses covering 9.9 square kilometers, and contiguous mineral tenures totaling approximately 83.5 square kilometers located in northeastern Tanzania.