Eastern Platinum (TSE:ELR) Stock Price Down 12.5% – Should You Sell?

Eastern Platinum Limited (TSE:ELR) dropped 12.5% during trading on Friday . The company traded as low as C$0.36 and last traded at C$0.42. 595,071 shares traded hands during mid-day trading, an increase of 108% from the average daily volume of 285,645 shares. The stock had previously closed at C$0.48.

Eastern Platinum Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.41 and a debt-to-equity ratio of 113.44. The firm has a 50-day moving average of C$0.36 and a 200 day moving average of C$0.43. The stock has a market capitalization of C$79.31 million, a P/E ratio of -3.85 and a beta of 3.08.

Eastern Platinum (TSE:ELR) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.04) earnings per share (EPS) for the quarter. Eastern Platinum had a negative net margin of 34.25% and a negative return on equity of 31.80%. The business had revenue of C$11.32 million during the quarter. Research analysts anticipate that Eastern Platinum Limited will post -0.11 EPS for the current fiscal year.

Eastern Platinum Company Profile

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy’s Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore. Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates, respectively.