Spanish Mountain Gold (CVE:SPA) Trading Down 14.8% – Should You Sell?

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) traded down 14.8% during mid-day trading on Thursday . The stock traded as low as C$0.23 and last traded at C$0.23. 1,669,179 shares traded hands 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 upgraded Spanish Mountain Gold to a “strong-buy” rating in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Spanish Mountain Gold currently has an average rating of “Strong Buy”.

Spanish Mountain Gold Stock Up 4.3%

The stock’s 50-day moving average price is C$0.16 and its two-hundred day moving average price is 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 stock has a market capitalization of C$117.73 million, a P/E ratio of -24.00 and a beta of 1.28.

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.