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

Spanish Mountain Gold Ltd. (CVE:SPA) was down 14.8% during mid-day trading on Thursday . The stock 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.

Wall Street Analyst Weigh In

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

Spanish Mountain Gold Trading Down 14.8%

The firm has a market capitalization of C$112.82 million, a price-to-earnings ratio of -23.00 and a beta of 1.28. The business’s 50-day moving average price is C$0.15 and its 200 day moving average price is C$0.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.99 and a quick ratio of 3.03.

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.