Emerita Resources (CVE:EMO) Shares Up 12.2% - Here's Why

Key Points

• Emerita Resources Corp. shares surged by 12.2% during mid-day trading, reaching a high of C$1.74 before closing at C$1.65, with trading volume increasing by 140% compared to average levels.
• Analysts from Canaccord Genuity Group set a target price of C$1.80 for Emerita Resources, maintaining a "speculative buy" rating, contributing to the company's overall consensus rating of "Buy."
• Emerita Resources focuses on the acquisition, exploration, and development of mineral properties in Spain, targeting deposits of gold, silver, zinc, and copper.

Emerita Resources Corp. (CVE:EMO - Get Free Report)'s share price shot up 12.2% during mid-day trading on Friday . The company traded as high as C$1.74 and last traded at C$1.65. 1,142,507 shares changed hands during trading, an increase of 140% from the average session volume of 475,099 shares. The stock had previously closed at C$1.47.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$1.80 price target on shares of Emerita Resources and gave the company a "speculative buy" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$1.80.

Emerita Resources Stock Up 12.2%

The stock's fifty day moving average is C$1.27 and its two-hundred day moving average is C$1.27. The company has a current ratio of 5.42, a quick ratio of 44.86 and a debt-to-equity ratio of 109.05. The company has a market capitalization of C$476.91 million, a PE ratio of -20.63 and a beta of 2.46.

About Emerita Resources

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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