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

Key Points

• Emerita Resources Corp. shares fell by 10.4% during mid-day trading on Wednesday, with stock prices dropping from C$1.15 to C$1.03.
• Trading volume surged by 726% compared to the average, with over 3.7 million shares exchanged.
• Analysts at Canaccord Genuity have given Emerita Resources a "speculative buy" rating and a price target of C$1.80.

Emerita Resources Corp. (CVE:EMO - Get Free Report)'s share price traded down 10.4% during trading on Wednesday . The company 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.

Analyst Ratings Changes

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

Emerita Resources Stock Performance

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