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

Spanish Mountain Gold Ltd. (CVE:SPA)’s stock price fell 14.8% during trading on Friday . The company traded as low as C$0.23 and last traded at C$0.23. 1,669,179 shares changed hands during trading, an increase of 229% from the average session volume of 507,406 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 research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Spanish Mountain Gold presently has an average rating of “Strong Buy”.

Spanish Mountain Gold Trading Down 14.8%

The business’s fifty day moving average price is C$0.15 and its 200 day moving average price is C$0.16. 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 firm has a market capitalization of C$112.82 million, a PE 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.