East Africa Metals (CVE:EAM) Trading 52% Higher – Here’s What Happened

East Africa Metals Inc. (CVE:EAM)’s stock price shot up 52% during trading on Tuesday . The company traded as high as C$0.20 and last traded at C$0.19. 3,130,347 shares were traded during mid-day trading, an increase of 3,287% from the average session volume of 92,414 shares. The stock had previously closed at C$0.13.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.30 target price on East Africa Metals and gave the company a “buy” rating in a research report on Wednesday, July 2nd.

East Africa Metals Price Performance

The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 2.03. The company has a market cap of C$41.57 million, a PE ratio of -16.49 and a beta of 1.03. The stock has a 50-day simple moving average of C$0.12 and a 200 day simple moving average of C$0.11.

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.