East Africa Metals (CVE:EAM) Trading 15% Higher – Time to Buy?

Shares of East Africa Metals Inc. (CVE:EAM) were up 15% on Friday . The stock traded as high as C$0.12 and last traded at C$0.12. Approximately 162,833 shares traded hands during trading, an increase of 211% from the average daily volume of 52,372 shares. The stock had previously closed at C$0.10.

East Africa Metals Stock Up 10.0%

The stock has a fifty day moving average price of C$0.12 and a two-hundred day moving average price of C$0.12. The company has a market cap of C$29.59 million, a price-to-earnings ratio of -11.00 and a beta of -0.38.

East Africa Metals Company Profile

East Africa Metals Inc, a mineral exploration company, focuses on the identification, acquisition, exploration, development, and sale of base and precious mineral resource properties in the Federal Democratic Republic of Ethiopia and the United Republic of Tanzania. The company primarily explores for gold, copper, silver, and zinc deposits. Its principal assets and interests include a 70% interest in the Harvest property, as well as 100% interest in the Adyabo project that comprises two exploration licenses covering 195 square kilometers situated in the Arabian Nubian Shield in northern Ethiopia; and an interest in the Handeni property comprising two mining licenses covering 9.9 square kilometers, and contiguous mineral tenures totaling approximately 83.5 square kilometers located in northeastern Tanzania.