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

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price was down 14.8% during mid-day trading on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,669,179 shares changed hands during mid-day trading, an increase of 229% from the average daily volume of 507,406 shares. The stock had previously closed at C$0.27.

Analyst Ratings Changes

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, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The firm has a market cap of C$112.82 million, a price-to-earnings ratio of -23.00 and a beta of 1.09. The stock’s fifty day moving average is C$0.15 and its two-hundred day moving average is C$0.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99.

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.