Eastern Platinum (TSE:ELR) Trading Up 17.1% – Time to Buy?

Eastern Platinum Limited (TSE:ELR) shares were up 17.1% during trading on Thursday . The stock traded as high as C$0.42 and last traded at C$0.41. Approximately 631,806 shares traded hands during mid-day trading, an increase of 124% from the average session volume of 281,593 shares. The stock had previously closed at C$0.35.

Eastern Platinum Stock Performance

The company’s fifty day moving average price is C$0.36 and its two-hundred day moving average price is C$0.43. The company has a debt-to-equity ratio of 113.44, a quick ratio of 0.48 and a current ratio of 0.41. The firm has a market capitalization of C$85.49 million, a PE ratio of -4.15 and a beta of 3.08.

Eastern Platinum (TSE:ELR) last released its earnings results on Thursday, August 13th. The company reported C($0.04) earnings per share (EPS) for the quarter. The company had revenue of C$11.32 million during the quarter. Eastern Platinum had a negative net margin of 34.25% and a negative return on equity of 31.80%. As a group, equities analysts expect that Eastern Platinum Limited will post -0.11 earnings per share for the current year.

Eastern Platinum Company Profile

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy’s Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore. Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates, respectively.