Spanish Mountain Gold (CVE:SPA) Trading Down 14.8% – Time to Sell?

Shares of Spanish Mountain Gold Ltd. (CVE:SPA) were down 14.8% on Thursday . The company traded as low as C$0.23 and last traded at C$0.23. Approximately 1,432,979 shares traded hands during trading, an increase of 183% from the average daily volume of 506,256 shares. The stock had previously closed at C$0.27.

Wall Street Analysts Forecast Growth

Separately, Atrium Research upgraded Spanish Mountain Gold to a “strong-buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Spanish Mountain Gold has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The company’s fifty day simple moving average is C$0.16 and its two-hundred day simple moving average is C$0.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99. The stock has a market capitalization of C$117.73 million, a P/E ratio of -24.00 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.