Empire Metals (LON:EEE) Shares Down 6.4% – What’s Next?

Empire Metals Limited (LON:EEE) shares were down 6.4% on Thursday . The company traded as low as GBX 40.20 and last traded at GBX 40.70. 3,540,451 shares traded hands during trading, an increase of 59% from the average daily volume of 2,228,397 shares. The stock had previously closed at GBX 43.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 62 price objective on shares of Empire Metals in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Empire Metals presently has a consensus rating of “Buy” and a consensus target price of GBX 62.

Empire Metals Stock Performance

The company has a quick ratio of 20.03, a current ratio of 15.45 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of GBX 41.48 and a 200 day moving average price of GBX 36.27. The stock has a market cap of £300.19 million, a PE ratio of -78.27 and a beta of 2.17.

Empire Metals (LON:EEE) last issued its earnings results on Thursday, August 27th. The company reported GBX (0.26) 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% TiO? for 113 million tonnes of contained TiO?.

Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip.