Spanish Mountain Gold (CVE:SPA) Trading Down 14.8% – Here’s What Happened

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price traded down 14.8% on Thursday . The stock traded as low as C$0.23 and last traded at C$0.23. 1,432,979 shares were traded during mid-day trading, an increase of 183% from the average session volume of 506,256 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

Separately, Atrium Research raised Spanish Mountain Gold to a “strong-buy” rating in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently 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 price-to-earnings ratio of -23.00 and a beta of 1.09. The company’s 50-day moving average price is C$0.15 and its 200-day moving average price is C$0.15. The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26.

Spanish Mountain Gold Company Profile

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.