Spanish Mountain Gold (CVE:SPA) Trading Down 14.8% – Here’s What Happened

Spanish Mountain Gold Ltd. (CVE:SPA) shares were down 14.8% on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,669,179 shares were traded during mid-day trading, an increase of 229% from the average daily volume of 507,406 shares. The stock had previously closed at C$0.27.

Wall Street Analyst Weigh In

Separately, Atrium Research raised shares of Spanish Mountain Gold to a “strong-buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Spanish Mountain Gold has an average rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The firm’s 50-day moving average price is C$0.15 and its 200-day moving average price is C$0.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.99 and a quick ratio of 3.03. The stock has a market cap of C$112.82 million, a P/E ratio of -23.00 and a beta of 1.09.

Spanish Mountain Gold Company Profile

Spanish Mountain Gold Ltd., an exploration stage resource company, engages in the acquisition, exploration, and development of mineral properties in Canada. It holds a 100% interest in the Spanish Mountain gold project, which comprises approximately 50 contiguous mineral claims and 13 placer claims covering an area of approximately 10,414 hectares located in the Cariboo region of central British Columbia.