Emerita Resources (CVE:EMO) Shares Down 10.4% - What's Next?

Key Points

• Emerita Resources Corp. shares fell 10.4% on Thursday, trading as low as C$1.01 before closing at C$1.03 on a significant increase in trading volume.
• Canaccord Genuity Group has set a C$1.80 price target for Emerita Resources and assigned it a "speculative buy" rating.
• The company's market capitalization is C$263.41 million, with a debt-to-equity ratio of 109.05 and a current ratio of 5.42.

Shares of Emerita Resources Corp. (CVE:EMO - Get Free Report) dropped 10.4% during mid-day trading on Thursday . The company 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 Analyst Weigh In

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

Emerita Resources Trading Up 4.9%

The firm has a market cap of C$276.20 million, a P/E ratio of -20.50 and a beta of 4.95. 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 50 day moving average of C$1.28 and a 200 day moving average 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.