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

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price fell 14.8% during trading on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. 1,349,479 shares changed hands during mid-day trading, an increase of 167% from the average session volume of 505,978 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Trading Up 4.3%

The company has a fifty day moving average of C$0.16 and a 200-day moving average of C$0.16. 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 company has a market capitalization of C$117.73 million, a price-to-earnings ratio of -24.00 and a beta of 1.28.

Spanish Mountain Gold Company Profile

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.