Emerita Resources (CVE:EMO) Trading Down 10.4% - Here's Why

Key Points

• Emerita Resources Corp. shares fell by 10.4%, closing at C$1.03 after previously being at C$1.15 during mid-day trading.
• The company experienced a surge in trading volume, with approximately 3.7 million shares exchanged, marking a 726% increase compared to its average daily volume.
• Canaccord Genuity Group has set a target price of C$1.80 for Emerita Resources, rating it as a "speculative buy."

Emerita Resources Corp. (CVE:EMO - Get Free Report) traded down 10.4% during trading on Wednesday . The company traded as low as C$1.01 and last traded at C$1.03. 3,709,492 shares were traded during trading, an increase of 726% from the average session volume of 449,315 shares. The stock had previously closed at C$1.15.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group set a C$1.80 price objective on shares of Emerita Resources and gave the stock a "speculative buy" rating in a research report on Monday, July 21st.

Emerita Resources Trading Down 0.9%

The company has a debt-to-equity ratio of 109.05, a quick ratio of 44.86 and a current ratio of 5.42. The business's 50-day moving average is C$1.28 and its two-hundred day moving average is C$1.31. The stock has a market capitalization of C$273.64 million, a PE ratio of -20.31 and a beta of 4.95.

Emerita Resources Company Profile

Emerita Resources Corp., a natural resource company, engages in the acquisition, exploration, and development of mineral properties in Spain. It primarily explores for gold, silver, zinc, and copper deposits. The company is headquartered in Toronto, Canada.