Emerita Resources (CVE:EMO) Trading Down 10.4% – Here’s Why

Emerita Resources Corp. (CVE:EMO) shares 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 traded hands during trading, an increase of 726% from the average daily volume of 449,315 shares. The stock had previously closed at C$1.15.

Analysts Set New Price Targets

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

Emerita Resources Stock Down 10.4%

The business has a 50-day moving average price of C$1.28 and a 200-day moving average price of C$1.31. The firm has a market cap of C$263.41 million, a P/E ratio of -19.56 and a beta of 4.95. The company has a current ratio of 5.42, a quick ratio of 44.86 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.