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

Key Points

• Shares of Emerita Resources (CVE:EMO) fell by 10.4% to C$1.03, with trading volume significantly increasing by 726% compared to its average daily volume.
• Analysts from Canaccord Genuity Group have set a target price of C$1.80 for Emerita Resources, rating the stock as a "speculative buy."
• The company’s financial metrics indicate a quick ratio of 44.86 and a debt-to-equity ratio of 109.05, highlighting significant liquidity but also high leverage.

Emerita Resources Corp. (CVE:EMO - Get Free Report)'s share price traded down 10.4% on Thursday . 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.

Analyst Ratings Changes

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

Emerita Resources Price Performance

The company has a market capitalization of C$276.20 million, a P/E ratio of -20.50 and a beta of 4.95. The firm's fifty day moving average is C$1.28 and its 200 day moving average is C$1.31. The company has a debt-to-equity ratio of 109.05, a quick ratio of 44.86 and a current ratio of 5.42.

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.