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

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 changed 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.

Wall Street Analyst Weigh In

Separately, Atrium Research upgraded Spanish Mountain Gold to a “strong-buy” rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Trading Down 14.8%

The company 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 simple moving average is C$0.15 and its two-hundred day simple moving average 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.

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.