Spanish Mountain Gold (CVE:SPA) Shares Up 26.5% – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price shot up 26.5% during trading on Tuesday . The company traded as high as C$0.22 and last traded at C$0.22. 3,018,412 shares traded hands during mid-day trading, an increase of 518% from the average session volume of 488,409 shares. The stock had previously closed at C$0.17.

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 research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Spanish Mountain Gold presently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Performance

The company has a market capitalization of C$105.47 million, a P/E ratio of -21.50 and a beta of 1.09. The company’s 50 day moving average is C$0.15 and its 200-day moving average is C$0.15. The company has a current ratio of 5.99, a quick ratio of 3.03 and a debt-to-equity ratio of 0.26.

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.