Spanish Mountain Gold (CVE:SPA) Shares Down 14.8% – What’s Next?

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price dropped 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 traded 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 upgraded shares of Spanish Mountain Gold to a “strong-buy” rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Spanish Mountain Gold has an average rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The firm has a market capitalization of C$117.73 million, a P/E ratio of -24.00 and a beta of 1.28. The company’s 50 day moving average is C$0.16 and its 200-day moving average 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.

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.