Spanish Mountain Gold (CVE:SPA) Shares Up 26.5% – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA) shares rose 26.5% during trading on Monday . The stock traded as high as C$0.22 and last traded at C$0.22. Approximately 2,524,312 shares traded hands during mid-day trading, an increase of 420% from the average daily volume of 485,314 shares. The stock had previously closed at C$0.17.

Wall Street Analyst Weigh In

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

Spanish Mountain Gold Price Performance

The company has a fifty day moving average of C$0.15 and a 200-day moving average of C$0.15. The company has a current ratio of 5.99, a quick ratio of 3.03 and a debt-to-equity ratio of 0.26. The stock has a market cap of C$105.40 million, a PE ratio of -21.50 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.