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

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

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Price Performance

The company has a market capitalization of C$112.82 million, a price-to-earnings ratio of -23.00 and a beta of 1.09. 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 stock’s 50-day moving average price is C$0.15 and its 200-day moving average price is 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.