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

Spanish Mountain Gold Ltd. (CVE:SPA) was down 14.8% during mid-day trading on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,587,679 shares traded 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 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.com, Spanish Mountain Gold presently has an average rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

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 firm has a fifty day simple moving average of C$0.15 and a 200 day simple moving average of C$0.15. The company has a market cap of C$112.82 million, a price-to-earnings 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.