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

Spanish Mountain Gold Ltd. (CVE:SPA) shares shot up 26.5% during mid-day trading on Tuesday . The company traded as high as C$0.22 and last traded at C$0.22. 3,018,412 shares were traded during trading, an increase of 518% from the average session volume of 488,409 shares. The stock had previously closed at C$0.17.

Analyst Ratings Changes

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 data from MarketBeat, the company has an average rating of “Strong Buy”.

Spanish Mountain Gold Trading Down 14.8%

The firm has a market cap of C$112.82 million, a P/E ratio of -23.00 and a beta of 1.09. The stock has a 50 day simple moving average of C$0.15 and a 200-day simple 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.

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.