Empire Metals (LON:EEE) Trading Up 9.8% – Time to Buy?

Empire Metals Limited (LON:EEE)’s stock price was up 9.8% during trading on Wednesday . The stock traded as high as GBX 52.30 and last traded at GBX 50.40. 17,292,914 shares traded hands during mid-day trading, an increase of 669% from the average daily volume of 2,249,673 shares. The stock had previously closed at GBX 45.90.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 62 target price on shares of Empire Metals in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 62.

Empire Metals Stock Down 0.7%

The firm has a fifty day moving average price of GBX 40.69 and a 200 day moving average price of GBX 36.07. 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 company has a market cap of £359.49 million, a P/E ratio of -93.73 and a beta of 2.17.

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.