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

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price fell 14.8% on Friday . The stock traded as low as C$0.23 and last traded at C$0.23. 1,669,179 shares changed hands during trading, an increase of 229% from the average session 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 research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Spanish Mountain Gold Trading Up 4.3%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99. The company has a market capitalization of C$117.73 million, a P/E ratio of -24.00 and a beta of 1.28. The company’s fifty day simple moving average is C$0.16 and its 200-day simple moving average 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.