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

Key Points

• Emerita Resources Corp. saw a significant decline of 10.4% in its stock price, trading down to C$1.03 after reaching a low of C$1.01 during the day.
• The trading volume surged by 726%, with approximately 3.7 million shares exchanged compared to its average daily volume of 449,315 shares.
• Analysts at Canaccord Genuity set a target price of C$1.80 for Emerita Resources and issued a "speculative buy" rating, indicating potential for future growth.

Emerita Resources Corp. (CVE:EMO - Get Free Report) shares traded down 10.4% during trading on Wednesday . The stock traded as low as C$1.01 and last traded at C$1.03. 3,709,492 shares were traded 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 Upgrades and Downgrades

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

Emerita Resources Stock Down 3.6%

The firm has a 50 day moving average price of C$1.28 and a 200-day moving average price of C$1.31. The firm has a market cap of C$276.20 million, a price-to-earnings ratio of -20.50 and a beta of 4.95. The company has a debt-to-equity ratio of 109.05, a current ratio of 5.42 and a quick ratio of 44.86.

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.