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Emerita Resources (CVE:EMO) Shares Down 9.6% - Should You Sell?

Emerita Resources logo with Basic Materials background

Key Points

  • Emerita Resources Corp. shares dropped by 9.6%, trading down to as low as C$1.01, with a significant increase in trading volume.
  • Wall Street analysts, including Canaccord Genuity Group, have set a C$1.80 price target on the stock, recommending a "speculative buy" rating.
  • The company has a market capitalization of C$264.69 million and is primarily focused on exploring mineral properties in Spain, including deposits of gold, silver, zinc, and copper.
  • Looking to export and analyze Emerita Resources data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Emerita Resources Corp. (CVE:EMO - Get Free Report) traded down 9.6% during mid-day trading on Wednesday . The stock traded as low as C$1.01 and last traded at C$1.04. 1,490,642 shares traded hands during mid-day trading, an increase of 246% from the average session volume of 431,319 shares. The stock had previously closed at C$1.15.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on EMO

Emerita Resources Stock Down 10.0%

The company has a quick ratio of 44.86, a current ratio of 5.42 and a debt-to-equity ratio of 109.05. The firm has a market cap of C$264.69 million, a price-to-earnings ratio of -19.65 and a beta of 4.95. The stock's 50 day moving average is C$1.28 and its 200 day moving average is C$1.31.

About Emerita Resources

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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