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

by · The Markets Daily

Shares of Spanish Mountain Gold Ltd. (CVE:SPA – Get Free Report) dropped 14.8% 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 mid-day 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 note on Wednesday, September 10th. One research 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”.

Get Our Latest Stock Analysis on Spanish Mountain Gold

Spanish Mountain Gold Trading Up 4.3%

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

About Spanish Mountain Gold

(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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