Empire Metals (LON:EEE) Trading Up 12.4% - Time to Buy?

Key Points

• Empire Metals Limited saw a notable increase of 12.4% in its stock price during mid-day trading, closing at GBX 56.20 ($0.76) after trading as high as GBX 56.50.
• Despite the stock's recent surge, its average daily volume declined by 41%, indicating less trading activity compared to previous days.
• Insiders have been actively buying shares, with Gregory Kuenzel and Shaun Bunn acquiring a total of 151,091 shares at prices ranging from GBX 37 to GBX 45.

Empire Metals Limited (LON:EEE - Get Free Report) was up 12.4% during mid-day trading on Thursday . The stock traded as high as GBX 56.50 ($0.76) and last traded at GBX 56.20 ($0.76). Approximately 2,936,044 shares were traded during trading, a decline of 41% from the average daily volume of 4,938,110 shares. The stock had previously closed at GBX 50 ($0.67).

Empire Metals Trading Down 1.0%

The firm's 50-day simple moving average is GBX 43.64 and its 200-day simple moving average is GBX 25.56. The company has a quick ratio of 20.03, a current ratio of 14.31 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of £384.27 million, a PE ratio of -83,074.63 and a beta of 1.80.

Empire Metals (LON:EEE - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported GBX (0.23) earnings per share (EPS) for the quarter.

Insider Transactions at Empire Metals

In other news, insider Gregory Kuenzel ACA bought 111,091 shares of the company's stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of GBX 45 per share, for a total transaction of £49,990.95. Also, insider Shaun Bunn bought 40,000 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were purchased at an average price of GBX 37 per share, with a total value of £14,800. Corporate insiders own 5.06% of the company's stock.

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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