Empire Metals (LON:EEE) Shares Up 13% – Should You Buy?

Empire Metals Limited (LON:EEE)’s stock price rose 13% during mid-day trading on Thursday . The company traded as high as GBX 37.18 and last traded at GBX 36.17. Approximately 4,091,687 shares were traded during trading, an increase of 46% from the average daily volume of 2,793,133 shares. The stock had previously closed at GBX 32.

Analyst Upgrades and Downgrades

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

Empire Metals Trading Up 4.2%

The firm’s 50 day moving average is GBX 38.78 and its 200 day moving average is GBX 41.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.12 and a quick ratio of 20.03. The company has a market cap of £245.97 million, a PE ratio of -356.70 and a beta of 2.35.

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.