Spanish Mountain Gold (CVE:SPA) Trading 26.5% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Stock Performance

The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of C$0.15 and a 200 day moving average price of C$0.15. The stock has a market cap of C$105.47 million, a PE ratio of -21.50 and a beta of 1.09.

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.