East Africa Metals (CVE:EAM) Trading Down 10% – Here’s What Happened

East Africa Metals Inc. (CVE:EAM)’s share price dropped 10% on Tuesday . The stock traded as low as C$0.09 and last traded at C$0.09. Approximately 147,250 shares changed hands during mid-day trading, an increase of 94% from the average daily volume of 75,733 shares. The stock had previously closed at C$0.10.

East Africa Metals Stock Performance

The stock has a fifty day simple moving average of C$0.11 and a 200-day simple moving average of C$0.12. The stock has a market cap of C$24.21 million, a P/E ratio of -9.00 and a beta of 0.79. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.26 and a current ratio of 1.05.

About East Africa Metals

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.