Spanish Mountain Gold (CVE:SPA) Shares Up 13.8% – Here’s Why

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) rose 13.8% on Tuesday . The company traded as high as C$0.17 and last traded at C$0.17. Approximately 1,342,706 shares were traded during mid-day trading, an increase of 186% from the average daily volume of 470,079 shares. The stock had previously closed at C$0.15.

Analysts Set New Price Targets

Separately, Atrium Research raised shares of 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, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The company’s 50-day moving average is C$0.14 and its two-hundred day moving average is C$0.15. The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26. The company has a market cap of C$83.34 million, a P/E ratio of -17.00 and a beta of 1.09.

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.