Spanish Mountain Gold (CVE:SPA) Trading Down 11.1% – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA)’s stock price fell 11.1% during mid-day trading on Thursday . The company traded as low as C$0.24 and last traded at C$0.24. 604,189 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 501,899 shares. The stock had previously closed at C$0.27.

Wall Street Analysts Forecast Growth

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

Spanish Mountain Gold Stock Performance

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 stock has a 50 day simple moving average of C$0.15 and a 200 day simple moving average of C$0.15. The company has a market capitalization of C$112.82 million, a price-to-earnings ratio of -23.00 and a beta of 1.09.

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.