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

Key Points

• Emerita Resources Corp. stock dropped by 10.4% to close at C$1.03, significantly increasing trading volume to 3,709,492 shares, which is 726% higher than the average.
• Analysts from Canaccord Genuity Group have set a price target of C$1.80 for Emerita Resources, with a rating of "speculative buy" as of July 21st.
• The company specializes in acquisition, exploration, and development of mineral properties in Spain, focusing on commodities like gold, silver, zinc, and copper.

Emerita Resources Corp. (CVE:EMO - Get Free Report)'s share price was down 10.4% during trading on Wednesday . The company traded as low as C$1.01 and last traded at C$1.03. Approximately 3,709,492 shares were traded 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.

Analyst Upgrades and Downgrades

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

Emerita Resources Stock Performance

The stock has a market capitalization of C$276.20 million, a PE ratio of -20.50 and a beta of 4.95. 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 50 day moving average price of C$1.28 and a 200-day moving average price of C$1.31.

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.