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

Key Points

• Emerita Resources Corp.'s stock price dropped by 10.4%, closing at C$1.03 after reaching a low of C$1.01 during trading.
• The company experienced a surge in trading volume, with approximately 3.7 million shares exchanged, a 726% increase from the average daily volume.
• Canaccord Genuity Group has set a price target of C$1.80 and issued a "speculative buy" rating on Emerita Resources shares.

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

Wall Street Analyst Weigh In

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.

Emerita Resources Trading Down 10.4%

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 stock has a market capitalization of C$263.41 million, a P/E ratio of -19.56 and a beta of 4.95. The firm's 50 day simple moving average is C$1.28 and its two-hundred day simple moving average is C$1.31.

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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