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

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

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Price Performance

The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26. The firm has a market cap of C$117.73 million, a PE ratio of -24.00 and a beta of 1.28. The stock has a 50 day moving average price of C$0.16 and a two-hundred day moving average price of C$0.16.

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.