Canaccord Genuity Group Reiterates Speculative Buy Rating for Empire Metals (LON:EEE)

Empire Metals (LON:EEE)‘s stock had its “speculative buy” rating restated by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a GBX 62 price target on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 37.78% from the stock’s current price.

Empire Metals Trading Down 4.9%

LON EEE opened at GBX 45 on Friday. The company’s 50-day moving average price is GBX 36.47 and its 200-day moving average price is GBX 39.08. Empire Metals has a 12 month low of GBX 5.79 and a 12 month high of GBX 84. The stock has a market cap of £319.90 million, a PE ratio of -463.92 and a beta of 1.80. The company has a current ratio of 14.31, a quick ratio of 20.03 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other news, insider Peter Damouni bought 89,335 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average cost of GBX 28 per share, for a total transaction of £25,013.80. Also, insider Neil O’Brien purchased 87,000 shares of Empire Metals stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average cost of GBX 29 per share, with a total value of £25,230. Over the last quarter, insiders have bought 301,335 shares of company stock worth $8,774,380. Corporate insiders own 5.10% of the company’s stock.

Empire Metals Company Profile

Empire Metals is an exploration and resource development company with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.

The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates.