Eastern Platinum (TSE:ELR) Trading Down 11.5% - Here's What Happened

Key Points

• Earnings Drop: Eastern Platinum's share price fell by 11.5%, trading at C$0.27, after closing at C$0.31 the previous day.
• Trading Volume Increase: The company experienced a 12% increase in trading volume, with approximately 156,800 shares changing hands during mid-day trading.
• Financial Ratios: The company has a quick ratio of 0.48 and a current ratio of 0.64, indicating financial challenges in meeting short-term obligations.

Eastern Platinum Limited (TSE:ELR - )'s share price dropped 11.5% during trading on Thursday . The company traded as low as C$0.27 and last traded at C$0.27. Approximately 156,800 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 139,921 shares. The stock had previously closed at C$0.31.

Eastern Platinum Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of C$0.24 and a 200-day simple moving average of C$0.21. The stock has a market capitalization of C$58.95 million, a price-to-earnings ratio of -2.64 and a beta of 1.25.

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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