East Africa Metals (CVE:EAM) Shares Down 10% – Time to Sell?

East Africa Metals Inc. (CVE:EAM)’s share price dropped 10% during mid-day trading on Tuesday . The company traded as low as C$0.09 and last traded at C$0.09. Approximately 147,250 shares traded hands during mid-day trading, an increase of 96% from the average daily volume of 75,301 shares. The stock had previously closed at C$0.10.

East Africa Metals Stock Performance

The stock’s 50-day simple moving average is C$0.11 and its 200 day simple moving average is C$0.12. The company has a market capitalization of C$24.21 million, a PE ratio of -9.00 and a beta of 0.79. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.26 and a current ratio of 1.05.

East Africa Metals Company Profile

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. Its principal assets and interests include a 70% interest in the Harvest property, as well as 100% interest in the Adyabo project that comprises two exploration licenses covering 195 square kilometers situated in the Arabian Nubian Shield in northern Ethiopia; and an interest in the Handeni property comprising two mining licenses covering 9.9 square kilometers, and contiguous mineral tenures totaling approximately 83.5 square kilometers located in northeastern Tanzania.