Empire Metals (LON:EEE) Shares Up 10.8% - Still a Buy?

Key Points

• Empire Metals' shares surged 10.8% on Thursday, rising from a previous close of GBX 25.50 ($0.34) to GBX 28.25 ($0.37), despite a decline in trading volume by 21%.
• The company's current market capitalization stands at £185.52 million, with a notable price-to-earnings ratio of -54.66 and impressive liquidity ratios (current ratio of 14.31, quick ratio of 20.03).
• Empire Metals is focusing on developing the Pitfield project in Western Australia, which features a significant titanium discovery characterized by an extensive anomaly identified through airborne surveys.

Empire Metals Limited (LON:EEE - Get Free Report) traded up 10.8% on Thursday . The company traded as high as GBX 29 ($0.38) and last traded at GBX 28.25 ($0.37). 3,076,077 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 3,874,789 shares. The stock had previously closed at GBX 25.50 ($0.34).

Empire Metals Price Performance

The stock has a 50 day moving average price of GBX 22.28 and a two-hundred day moving average price of GBX 14.27. The firm has a market capitalization of £185.52 million, a price-to-earnings ratio of -54.66 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.31 and a quick ratio of 20.03.

Empire Metals (LON:EEE - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The company reported GBX (0.67) (($0.01)) earnings per share (EPS) for the quarter.

About Empire Metals

Empire Metals is an exploration and resource development company with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia. The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep.

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