Empire Metals (LON:EEE) Shares Up 15.4% – Here’s What Happened

Empire Metals Limited (LON:EEE)’s stock price was up 15.4% on Wednesday . The stock traded as high as GBX 34.85 and last traded at GBX 34.85. Approximately 3,881,424 shares changed hands during trading, an increase of 54% from the average daily volume of 2,520,492 shares. The stock had previously closed at GBX 30.20.

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 report on Friday, January 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 62.

Empire Metals Stock Down 2.5%

The stock has a market capitalization of £259.12 million, a price-to-earnings ratio of -70.10 and a beta of 2.27. The firm has a 50-day moving average of GBX 33.36 and a 200 day moving average of GBX 38.38. The company has a current ratio of 15.45, a quick ratio of 20.03 and a debt-to-equity ratio of 0.37.

Empire Metals (LON:EEE) last posted its quarterly earnings data on Monday, March 23rd. The company reported GBX (0.52) earnings per share (EPS) for the quarter.

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.