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

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price was down 14.8% during trading on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,669,179 shares changed hands during trading, an increase of 229% from the average daily volume of 507,406 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

Separately, Atrium Research raised Spanish Mountain Gold to a “strong-buy” rating in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Price Performance

The company’s 50-day moving average price is C$0.15 and its two-hundred day moving average price is C$0.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.99 and a quick ratio of 3.03. The company has a market capitalization of C$112.82 million, a P/E ratio of -23.00 and a beta of 1.28.

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.