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

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) rose 26.5% 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.

Wall Street Analysts Forecast Growth

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

Spanish Mountain Gold Stock Up 26.5%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99. The company has a market cap of C$105.47 million, a P/E ratio of -21.50 and a beta of 1.09. The firm’s 50-day simple moving average is C$0.15 and its 200 day simple moving average is C$0.15.

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.