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

Spanish Mountain Gold Ltd. (CVE:SPA) fell 14.8% during mid-day trading on Friday . The stock traded as low as C$0.23 and last traded at C$0.23. 1,669,179 shares were traded during mid-day trading, an increase of 229% from the average session volume of 507,406 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

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

Spanish Mountain Gold Stock Up 4.3%

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

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.