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

by · The Cerbat Gem

Spanish Mountain Gold Ltd. (CVE:SPA – Get Free Report)’s stock price dropped 14.8% during trading on Friday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,669,179 shares traded 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 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, According to MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Read Our Latest Stock Report on SPA

Spanish Mountain Gold Stock Down 14.8%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99. The stock has a fifty day moving average price of C$0.15 and a 200-day moving average price of C$0.16. The firm has a market cap of C$112.82 million, a PE ratio of -23.00 and a beta of 1.28.

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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