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

Key Points

• Emerita Resources Corp. experienced a significant share price drop of 10.4% to C$1.03, with trading volume increasing by 726% compared to its average daily volume.
• Canaccord Genuity recently set a price target of C$1.80 on the stock, giving it a "speculative buy" rating.
• The company, based in Toronto, primarily explores for gold, silver, zinc, and copper deposits in Spain.

Emerita Resources Corp. (CVE:EMO - Get Free Report)'s share price 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 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.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$1.80 price objective on Emerita Resources and gave the company a "speculative buy" rating in a report 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 firm has a market cap of C$263.41 million, a price-to-earnings ratio of -19.56 and a beta of 4.95. The company has a fifty day moving average price of C$1.28 and a two-hundred 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.