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

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

Analysts Set New Price Targets

Separately, Atrium Research upgraded shares of Spanish Mountain Gold to a “strong-buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The firm has a market capitalization of C$105.40 million, a price-to-earnings ratio of -21.50 and a beta of 1.09. The firm has a 50 day moving average price of C$0.15 and a 200-day moving average price of C$0.15. 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.