Empire Metals (LON:EEE) Trading Down 9.4% – Here’s What Happened

Empire Metals Limited (LON:EEE)’s stock price dropped 9.4% during mid-day trading on Friday . The stock traded as low as GBX 36.26 and last traded at GBX 36.70. Approximately 8,018,039 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 4,986,974 shares. The stock had previously closed at GBX 40.50.

Empire Metals Stock Down 9.4%

The stock has a market cap of £260.90 million, a price-to-earnings ratio of -378.35 and a beta of 1.80. The stock has a 50 day simple moving average of GBX 42.15 and a 200 day simple moving average of GBX 34.17. The company has a quick ratio of 20.03, a current ratio of 14.31 and a debt-to-equity ratio of 0.12.

Empire Metals (LON:EEE) last issued its earnings results on Thursday, September 4th. The company reported GBX (0.23) earnings per share for the quarter.

Insider Buying and Selling

In related news, insider Peter Damouni purchased 89,335 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of GBX 28 per share, for a total transaction of £25,013.80. Also, insider Shaun Bunn purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was bought at an average cost of GBX 37 per share, with a total value of £14,800. Insiders have acquired a total of 452,426 shares of company stock worth $15,253,475 over the last 90 days. Company insiders own 5.06% 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.