Empire Metals (LON:EEE) Trading 21.9% Higher After Insider Buying Activity

Key Points

• Empire Metals Limited saw a significant stock price increase of 21.9% during mid-day trading, reaching as high as GBX 45 ($0.61) after closing at GBX 35 ($0.48) previously.
• The company's stock had a trading volume increase of 123% compared to its average session volume, with nearly 11 million shares traded.
• Empire Metals focuses on developing the Pitfield titanium project in Western Australia, which boasts a large and high-grade deposit with a significant geological anomaly identified.

Empire Metals Limited (LON:EEE - Get Free Report) shot up 21.9% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as GBX 45 ($0.61) and last traded at GBX 42.66 ($0.57). 10,994,645 shares traded hands during mid-day trading, an increase of 123% from the average session volume of 4,938,253 shares. The stock had previously closed at GBX 35 ($0.47).

Specifically, insider Shaun Bunn purchased 40,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was purchased at an average price of GBX 37 per share, with a total value of £14,800. Also, insider Gregory Kuenzel ACA purchased 111,091 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of GBX 45 per share, with a total value of £49,990.95.

Empire Metals Trading Up 20.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 20.03 and a current ratio of 14.31. The stock's fifty day moving average is GBX 39.46 and its 200 day moving average is GBX 23.11. The stock has a market cap of £379.72 million, a P/E ratio of -82,089.55 and a beta of 1.80.

Empire Metals (LON:EEE - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The company reported GBX (0.23) 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.