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

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) dropped 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 1,587,679 shares changed hands during mid-day trading, an increase of 213% from the average daily volume of 506,930 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Stock Down 14.8%

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 company has a 50 day simple moving average of C$0.15 and a two-hundred day simple moving average of C$0.15. The company has a market capitalization 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.