Empire Metals (LON:EEE) Shares Down 1.1% – What’s Next?

Empire Metals Limited (LON:EEE) shares dropped 1.1% during mid-day trading on Friday . The stock traded as low as GBX 35.60 and last traded at GBX 35.70. Approximately 1,390,971 shares were traded during trading, a decline of 50% from the average daily volume of 2,769,214 shares. The stock had previously closed at GBX 36.10.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued a GBX 62 price objective on shares of Empire Metals in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Empire Metals currently has an average rating of “Buy” and an average target price of GBX 62.

Empire Metals Stock Down 1.1%

The firm has a 50-day moving average of GBX 39.39 and a two-hundred day moving average of GBX 41.43. The firm has a market cap of £253.79 million, a price-to-earnings ratio of -368.04 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.

About Empire Metals

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.