Capital Metals (LON:CMET) Shares Up 15.5% – Time to Buy?

Capital Metals plc (LON:CMET) shares rose 15.5% on Wednesday . The stock traded as high as GBX 5.37 and last traded at GBX 5.37. Approximately 1,244,214 shares changed hands during trading, a decline of 26% from the average daily volume of 1,671,790 shares. The stock had previously closed at GBX 4.65.

Capital Metals Stock Performance

The firm’s fifty day simple moving average is GBX 4.43 and its 200 day simple moving average is GBX 4.22. The firm has a market cap of £26.42 million, a P/E ratio of -22.75 and a beta of 0.51.

Capital Metals (LON:CMET) last issued its earnings results on Thursday, December 18th. The company reported GBX (0.14) earnings per share (EPS) for the quarter.

Capital Metals Company Profile

Capital Metals is a UK company listed on the London Stock Exchange (AIM: CMET). We are developing the Taprobane Minerals Project in Sri Lanka, approximately 220km east of Colombo, containing industrial minerals including ilmenite, rutile, zircon, and garnet. The Project is one of the highest-grade mineral sands projects globally, with potential for further grade and resource expansion. In 2022, a third-party Preliminary Economic Assessment provided a Project NPV of US$155-235m based on existing resources, with further identified optimisation potential.