Spanish Mountain Gold (CVE:SPA) Trading 26.5% Higher – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Spanish Mountain Gold Trading Down 14.8%

The firm’s 50 day moving average is C$0.15 and its 200 day moving average is C$0.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.99 and a quick ratio of 3.03. The company has a market capitalization of C$112.82 million, a PE 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.