Empire Metals (LON:EEE) Stock Price Down 2.1% – Here’s Why

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

Analysts Set New Price Targets

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

Empire Metals Price Performance

The company has a quick ratio of 20.03, a current ratio of 37.87 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is GBX 40.04 and its 200-day moving average price is GBX 37.30. The company has a market cap of £248.45 million, a PE ratio of -64.53 and a beta of 2.17.

Empire Metals (LON:EEE) last released its earnings results on Thursday, August 27th. The company reported GBX (0.26) EPS for the quarter.

Empire Metals Company Profile

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% TiO? for 113 million tonnes of contained TiO?.

Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip.