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

Key Points

• Emerita Resources shares fell by 10.4%, trading as low as C$1.01, with a significant increase in trading volume.
• Analysts at Canaccord Genuity set a target price of C$1.80 and rated the stock as a "speculative buy."
• The company specializes in the exploration and development of mineral properties in Spain, focusing on gold, silver, zinc, and copper.

Shares of Emerita Resources Corp. (CVE:EMO - Get Free Report) fell 10.4% during trading 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 price objective on shares of Emerita Resources and gave the stock a "speculative buy" rating in a research note on Monday, July 21st.

Emerita Resources Trading Up 3.7%

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's 50 day simple moving average is C$1.28 and its 200-day simple moving average is C$1.31. The company has a market capitalization of C$286.43 million, a PE ratio of -21.26 and a beta of 4.95.

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.