Eastern Platinum (TSE:ELR) Stock Price Up 6.1% - Time to Buy?

Key Points

• Stock move: Eastern Platinum's shares rose 6.1% to C$0.44 on Thursday but on very thin volume—48,365 shares traded, an 87% drop from the average daily volume.
• Weak fundamentals: The company reported C($0.05) EPS for the quarter, has a negative net margin (29.83%) and return on equity (-27.28%), a negative P/E, and analysts forecast a full-year EPS of -0.11.
• Business and risk profile: Eastern Platinum is a South African platinum-group-metals and chrome miner (projects include Crocodile River and Mareesburg), with a market cap of C$94.62M, low liquidity ratios (current 0.47) and a high beta (2.89), indicating elevated risk and volatility.

Eastern Platinum Limited (TSE:ELR - Get Free Report)'s stock price rose 6.1% on Thursday . The stock traded as high as C$0.44 and last traded at C$0.44. Approximately 48,365 shares were traded during trading, a decline of 87% from the average daily volume of 386,018 shares. The stock had previously closed at C$0.41.

Eastern Platinum Trading Up 13.4%

The company has a debt-to-equity ratio of 15.61, a quick ratio of 0.48 and a current ratio of 0.47. The firm has a 50 day simple moving average of C$0.48 and a two-hundred day simple moving average of C$0.44. The firm has a market capitalization of C$94.62 million, a P/E ratio of -5.17 and a beta of 2.89.

Eastern Platinum (TSE:ELR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported C($0.05) earnings per share for the quarter. Eastern Platinum had a negative net margin of 29.83% and a negative return on equity of 27.28%. The company had revenue of C$29.83 million for the quarter. Equities research analysts forecast that Eastern Platinum Limited will post -0.11 earnings per share for the current year.

About Eastern Platinum

Eastern Platinum Ltd. is engaged in mining, exploration, and development of platinum group metal (PGM) and chrome properties located in various provinces in South Africa. The firm's projects include Crocodile River Mine and Mareesburg.

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