Spanish Mountain Gold (CVE:SPA) Shares Up 16.3% – Here’s Why

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) were up 16.3% during mid-day trading on Tuesday . The stock traded as high as C$0.25 and last traded at C$0.25. Approximately 1,211,185 shares changed hands during trading, an increase of 147% from the average daily volume of 490,308 shares. The stock had previously closed at C$0.22.

Analyst Upgrades and Downgrades

Separately, Atrium Research upgraded shares of 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 MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The stock has a 50 day moving average price of C$0.15 and a two-hundred day moving average price of C$0.15. The company has a market capitalization of C$120.18 million, a price-to-earnings ratio of -24.50 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.99 and a quick ratio of 3.03.

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.