Emerita Resources (CVE:EMO) Trading Down 9.6% - Here's Why

Key Points

• Emerita Resources Corp. shares dropped by 9.6%, trading as low as C$1.01, with a significant increase in trading volume of approximately 1.49 million shares.
• Analysts from Canaccord Genuity Group set a price target of C$1.80 along with a "speculative buy" rating for the stock.
• The company's key financial metrics include a market capitalization of C$264.69 million, a negative P/E ratio of -19.65, and a high debt-to-equity ratio of 109.05.

Shares of Emerita Resources Corp. (CVE:EMO - Get Free Report) were down 9.6% during trading on Wednesday . The company traded as low as C$1.01 and last traded at C$1.04. Approximately 1,490,642 shares changed hands during mid-day trading, an increase of 246% from the average daily volume of 431,319 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 Emerita Resources and gave the stock a "speculative buy" rating in a research report on Monday, July 21st.

Emerita Resources Price Performance

The stock has a market capitalization of C$264.69 million, a P/E ratio of -19.65 and a beta of 4.95. The company has a debt-to-equity ratio of 109.05, a quick ratio of 44.86 and a current ratio of 5.42. The stock has a 50-day simple moving average of C$1.28 and a 200 day simple 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.

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