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Empire Metals
(LSE:EEE)
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Rating:52Neutral
Price Target:
52.00 p
▲(7.44% Upside)
Action:Reiterated
Date:08/20/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn), partially offset by a low-debt balance sheet. Technical momentum is a clear positive with price trending above key moving averages, but valuation support is limited given negative earnings and no dividend data.
Positive Factors
Low Leverage
Near-zero leverage and only ~0.06M of debt against ~17.10M of equity provide financial flexibility for exploration. This reduces insolvency and interest-burden risk while the company seeks to advance assets, although it does not create cash flow.
Negative Factors
Pre-Revenue Business
The absence of revenue means Empire Metals has no demonstrated operating income stream to fund exploration or corporate costs. Its ability to create value therefore remains dependent on future project success and continued access to external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Near-zero leverage and only ~0.06M of debt against ~17.10M of equity provide financial flexibility for exploration. This reduces insolvency and interest-burden risk while the company seeks to advance assets, although it does not create cash flow.
Read all positive factors
Empire Metals (EEE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£359.84M
Dividend YieldN/A
Average Volume (3M)8.01M
Price to Earnings (P/E)―
Beta (1Y)0.52
Revenue GrowthN/A
EPS Growth22.39%
CountryUK
Employees7
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding757,559,900
10 Day Avg. Volume6,971,629
30 Day Avg. Volume8,014,831
Financial Highlights & Ratios
PEG Ratio3.35
Price to Book (P/B)15.39
Price to Sales (P/S)0.00
P/FCF Ratio-86.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£62.00Price Target Upside28.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Empire Metals Business Overview & Revenue Model
Company Description
Empire Metals Limited, an entity headquartered in Road Town, British Virgin Islands, focuses its efforts on identifying and advancing mineral deposits across the United Kingdom, Australia, and Austria. A key asset within its portfolio is the Eclip...
How the Company Makes Money
As an exploration-focused company, Empire Metals does not typically generate recurring operating revenue from selling mined commodities unless it has a producing asset (not confirmed here). Its funding model is generally driven by raising capital ...
Empire Metals Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
66
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -47.49K | -56.60K | -23.35K | -300.00 | -1.42K |
| EBITDA | -3.50M | -4.13M | -2.24M | ― | -2.33M |
| Net Income | -3.54M | -4.09M | -2.80M | -1.16M | -589.00K |
Balance Sheet | |||||
| Total Assets | 17.82M | 8.42M | 7.71M | 4.88M | 4.25M |
| Cash, Cash Equivalents and Short-Term Investments | 9.64M | 3.52M | 2.85M | 1.47M | 2.21M |
| Total Debt | 62.51K | 12.43K | 21.38K | 0.00 | 0.00 |
| Total Liabilities | 712.69K | 154.36K | 751.67K | 110.30K | 124.54K |
| Stockholders Equity | 17.10M | 8.26M | 6.95M | 4.77M | 4.13M |
Cash Flow | |||||
| Free Cash Flow | -3.04M | -4.62M | -1.05M | -2.31M | -2.50M |
| Operating Cash Flow | -2.94M | -3.06M | -998.82K | -972.40K | -990.54K |
| Investing Cash Flow | -3.20M | -1.56M | -1.93M | -1.34M | 793.27K |
| Financing Cash Flow | 12.27M | 5.39M | 4.22M | 1.57M | 118.00K |
Empire Metals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | £235.53M | 8.87 | 14.10% | 4.76% | 70.88% | 218.79% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | £359.84M | -91.35 | -24.90% | ― | ― | 22.39% | |
51 Neutral | £68.62M | 15.50 | 19.91% | ― | -18.31% | ― | |
44 Neutral | £86.99M | -27.19 | -12.79% | ― | ― | 20.51% | |
38 Underperform | £363.80M | -58.05 | -25.01% | ― | ― | -157.72% |
* Basic Materials Sector Average
GB:EEE
Empire Metals
47.50
9.50
25.00%
GB:EUA
Eurasia Mining
2.33
-1.88
-44.64%
GB:SLP
Sylvania Platinum
91.00
19.04
26.46%
GB:FMET
Fulcrum Metals Plc
8.00
4.30
116.22%
GB:GMET
Golden Metal Resources Plc
183.00
109.00
147.30%
GB:HEX
Helix Exploration Plc
31.00
5.50
21.57%
Empire Metals Corporate Events
Business Operations and Strategy
Empire Metals Upgrade Confirms Pitfield as World’s Largest Titanium Resource
Positive
Aug 19, 2026
Empire Metals has announced an upgraded Mineral Resource Estimate at its Pitfield Project in Western Australia, confirming it as the world’s largest titanium resource. The company reports a total resource of 8.16 billion tonnes at 4.3% TiO2,...
Business Operations and StrategyExecutive/Board Changes
Empire Metals bolsters project team to accelerate Pitfield titanium development
Positive
Jul 23, 2026
Empire Metals has strengthened its management team to support rapid advancement of the Pitfield Titanium Project, a globally significant titanium resource strategically located to serve growing demand for critical minerals. The company is building...
Business Operations and StrategyExecutive/Board Changes
Empire Metals unveils performance-linked long-term incentive plan
Positive
Jul 16, 2026
Empire Metals has adopted a new Long-Term Incentive Plan and granted a mix of nil-cost share awards and options to directors, senior management and employees, equal to about 2.67% of its issued share capital. The majority of these awards, includin...
Business Operations and StrategyM&A Transactions
Empire Metals Sells Eclipse Gold Lease to Sharpen Focus on Pitfield Titanium
Positive
Jun 24, 2026
Empire Metals has completed the sale of its 75% interest in the Eclipse Mining Lease, a non-core gold asset near Kalgoorlie in Western Australia, for total cash consideration of A$750,000. The transaction was executed through its Australian subsid...
Business Operations and StrategyShareholder Meetings
Empire Metals to brief investors on Pitfield titanium project progress and commercialisation plans
Positive
Jun 23, 2026
Empire Metals has scheduled a live investor presentation on 30 June 2026 via the Investor Meet Company platform, where Managing Director Shaun Bunn and Finance Director Greg Kuenzel will brief shareholders on recent progress at the Pitfield Projec...
Business Operations and Strategy
Empire Metals Confirms Massive High-Grade Titanium Core at Pitfield’s Thomas Prospect
Positive
Jun 22, 2026
Empire Metals has reported its strongest drilling results yet from the Thomas Prospect at its Pitfield titanium project in Western Australia, confirming a massive high-grade core averaging 47 metres thick over about 6.25 square kilometres. The lat...
Business Operations and Strategy
Empire Metals outlines low-cost flowsheet for premium titanium products at Pitfield
Positive
Jun 11, 2026
Empire Metals has completed an integrated metallurgical processing flowsheet for its Pitfield Titanium Project in Western Australia, demonstrating the ability to produce premium 99%+ TiO₂ pigment, titanium sponge metal feedstock and a high-g...
Business Operations and Strategy
Empire Metals Adds Zeus as Joint Broker to Support Titanium Growth Plans
Positive
Jun 4, 2026
Empire Metals has appointed Zeus Capital Limited as a joint corporate broker, joining existing brokers Canaccord Genuity and S. P. Angel. The move broadens the company’s advisory and capital markets support as it advances its portfolio in th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.