Emerita Resources (CVE:EMO) Stock Price Down 4.1% - Time to Sell?

Key Points

• Emerita Resources Corp. shares fell 4.1% to C$1.18 during trading, with a total of 465,577 shares exchanged, up from the average volume.
• Canaccord Genuity Group issued a price target of C$1.80 for Emerita Resources and rated it as a "speculative buy."
• The company focuses on the exploration and development of mineral properties in Spain, primarily targeting gold, silver, zinc, and copper deposits.

Emerita Resources Corp. (CVE:EMO - Get Free Report) shares fell 4.1% during mid-day trading on Wednesday . The stock traded as low as C$1.15 and last traded at C$1.18. 465,577 shares changed hands during trading, an increase of 6% from the average session volume of 439,472 shares. The stock had previously closed at C$1.23.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$1.80 price objective on Emerita Resources and gave the stock a "speculative buy" rating in a report on Monday, July 21st.

Emerita Resources Price Performance

The business's 50 day moving average is C$1.27 and its 200-day moving average is C$1.31. The firm has a market capitalization of C$299.21 million, a P/E ratio of -22.21 and a beta of 4.95. The company has a quick ratio of 44.86, a current ratio of 5.42 and a debt-to-equity ratio of 109.05.

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.