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

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) dropped 14.8% on Friday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,669,179 shares changed hands during mid-day trading, an increase of 229% from the average daily volume of 507,406 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

Separately, Atrium Research upgraded 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, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Spanish Mountain Gold Price Performance

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

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.