Spanish Mountain Gold (CVE:SPA) Stock Price Up 26.5% – Here’s Why

by · The Cerbat Gem

Spanish Mountain Gold Ltd. (CVE:SPA – Get Free Report) shares shot up 26.5% on Tuesday . The company traded as high as C$0.22 and last traded at C$0.22. 3,018,412 shares changed hands during mid-day trading, an increase of 518% from the average session volume of 488,409 shares. The stock had previously closed at C$0.17.

Analysts Set New Price Targets

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

Read Our Latest Stock Report on SPA

Spanish Mountain Gold Trading Down 11.1%

The business has a 50-day moving average price of C$0.15 and a two-hundred day moving average price of C$0.15. The stock has a market capitalization of C$117.73 million, a P/E ratio of -24.00 and a beta of 1.09. The company has a current ratio of 5.99, a quick ratio of 3.03 and a debt-to-equity ratio of 0.26.

Spanish Mountain Gold Company Profile

(Get Free Report)

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.

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