Empire Metals (LON:EEE) Trading 9.3% Higher – Here’s Why

Shares of Empire Metals Limited (LON:EEE) rose 9.3% during mid-day trading on Monday . The stock traded as high as GBX 45.75 and last traded at GBX 44.80. Approximately 4,073,367 shares traded hands during mid-day trading, an increase of 82% from the average session volume of 2,240,967 shares. The stock had previously closed at GBX 41.

Wall Street Analysts Forecast Growth

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

Empire Metals Stock Performance

The company has a current ratio of 15.45, a quick ratio of 20.03 and a debt-to-equity ratio of 0.37. The stock has a market cap of £330.43 million, a P/E ratio of -86.15 and a beta of 2.20. The company’s 50-day simple moving average is GBX 34.56 and its 200 day simple moving average is GBX 35.71.

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% TiO₂ for 113 million tonnes of contained TiO₂.

Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip.