Empire Metals’ (EEE) Speculative Buy Rating Reiterated at Canaccord Genuity Group

Empire Metals (LON:EEE)‘s stock had its “speculative buy” rating restated by stock analysts at Canaccord Genuity Group in a research note issued on Friday,Digital Look reports. They presently have a GBX 62 price objective on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 37.78% from the company’s previous close.

Empire Metals Price Performance

Shares of EEE traded down GBX 2.30 during midday trading on Friday, hitting GBX 45. 2,951,080 shares of the company traded hands, compared to its average volume of 4,419,670. Empire Metals has a one year low of GBX 5.79 and a one year high of GBX 84. The firm has a market cap of £319.90 million, a P/E ratio of -463.92 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.31 and a quick ratio of 20.03. The stock has a 50-day moving average of GBX 36.38 and a 200-day moving average of GBX 38.89.

Insider Buying and Selling

In other Empire Metals news, insider Peter Damouni acquired 89,335 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of GBX 28 per share, with a total value of £25,013.80. Also, insider Neil O’Brien bought 87,000 shares of Empire Metals stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of GBX 29 per share, with a total value of £25,230. Over the last quarter, insiders have acquired 301,335 shares of company stock worth $8,774,380. Corporate insiders own 5.10% of the company’s stock.

Empire Metals Company Profile

Empire Metals is an exploration and resource development company with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates.