Empire Metals (LON:EEE) Shares Up 0.9% - Here's Why

Key Points

• Shares up 0.9% — Empire Metals rose to GBX 32 (intraday high GBX 33) on Wednesday, with 769,355 shares traded, a 68% drop versus average session volume.
• Canaccord Genuity reissued a "speculative buy" and set a GBX 62 price target; MarketBeat shows an average analyst rating of "Buy" with an average target of GBX 62.
• Empire is developing the Pitfield Titanium Project, which hosts an MRE of 2.2 billion tonnes at 5.1% TiO2 (113 million tonnes contained); the company has a market cap of £227.49M and reported quarterly EPS of GBX (0.52).

Shares of Empire Metals Limited (LON:EEE - Get Free Report) shot up 0.9% during mid-day trading on Wednesday . The company traded as high as GBX 33 and last traded at GBX 32. 769,355 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,426,027 shares. The stock had previously closed at GBX 31.70.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 62 price target on shares of Empire Metals in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of GBX 62.

Empire Metals Stock Up 0.9%

The stock's 50 day simple moving average is GBX 32.46 and its two-hundred day simple moving average is GBX 36.32. The firm has a market cap of £227.49 million, a P/E ratio of -61.54 and a beta of 2.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 15.45 and a quick ratio of 20.03.

Empire Metals (LON:EEE - Get Free Report) last announced its earnings results on Monday, March 23rd. The company reported GBX (0.52) earnings per share for the quarter.

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.

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