Emerita Resources (CVE:EMO) Trading Down 10.4% - Time to Sell?

Key Points

• Emerita Resources Corp. shares fell by 10.4%, trading as low as C$1.01 before closing at C$1.03, with a trading volume that was significantly higher than average.
• Analyst firm Canaccord Genuity Group has set a price target of C$1.80 on Emerita Resources stock, recommending it as a "speculative buy."
• The company specializes in acquiring and developing mineral properties in Spain, focusing on deposits of gold, silver, zinc, and copper.

Shares of Emerita Resources Corp. (CVE:EMO - Get Free Report) 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 were traded during trading, an increase of 726% from the average daily 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 target price on Emerita Resources and gave the stock a "speculative buy" rating in a research note on Monday, July 21st.

Emerita Resources Trading Down 3.6%

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 firm has a market capitalization of C$276.20 million, a PE ratio of -20.50 and a beta of 4.95. The company's fifty day simple moving average is C$1.28 and its 200-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.