Emerita Resources (CVE:EMO) Shares Down 10.4% - What's Next?

Key Points

• Emerita Resources Corp. experienced a significant decline in its stock price, falling 10.4% to C$1.03, with trading volume surging by 726% compared to its average session.
• Analyst ratings have set a price target of C$1.80 for Emerita Resources, with Canaccord Genuity Group giving it a "speculative buy" rating.
• The company focuses on the acquisition and exploration of mineral properties in Spain, primarily targeting gold, silver, zinc, and copper deposits.

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

Analyst Ratings Changes

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

Emerita Resources Stock Performance

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 firm's 50 day simple moving average is C$1.28 and its 200-day simple moving average is C$1.31. The company has a market cap of C$263.41 million, a price-to-earnings ratio of -19.56 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.

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