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

Shares of Emerita Resources Corp. (CVE:EMO) were down 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 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.

Analysts Set New Price Targets

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

Emerita Resources Stock Down 10.4%

The business’s 50-day moving average is C$1.28 and its 200-day moving average is C$1.31. 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 firm has a market cap of C$263.41 million, a price-to-earnings ratio of -19.56 and a beta of 4.95.

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.