East Africa Metals (CVE:EAM) Hits New 52-Week Low – Here’s Why

East Africa Metals Inc. (CVE:EAM) shares hit a new 52-week low during trading on Friday. The company traded as low as C$0.07 and last traded at C$0.07, with a volume of 20,000 shares. The stock had previously closed at C$0.08.

East Africa Metals Price Performance

The company has a market capitalization of C$18.83 million, a price-to-earnings ratio of -1.17 and a beta of -0.32. The stock has a fifty day simple moving average of C$0.08 and a 200-day simple moving average of C$0.09.

About East Africa Metals

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.