Spanish Mountain Gold (CVE:SPA) Shares Down 14.8% – What’s Next?

Spanish Mountain Gold Ltd. (CVE:SPA) dropped 14.8% during mid-day 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 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 upgraded 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 MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Spanish Mountain Gold Trading Down 14.8%

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 market cap of C$112.82 million, a PE ratio of -23.00 and a beta of 1.28. The company’s 50 day moving average price is C$0.15 and its 200 day moving average price is C$0.16.

About Spanish Mountain Gold

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.