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

Key Points

• Emerita Resources Corp. (CVE:EMO) experienced a significant drop of 10.4% in stock price, trading between C$1.01 and C$1.03, with volume spiking to 3,199,266 shares.
• Analysts from Canaccord Genuity Group issued a target price of C$1.80 and rated the stock as a "speculative buy" as of July 21st.
• The company, focused on mineral exploration in Spain, has a market capitalization of C$263.41 million and significant debt, reflected by a debt-to-equity ratio of 109.05.

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

Analysts Set New Price Targets

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.

Emerita Resources Stock Down 4.5%

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 business'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 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.