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

Spanish Mountain Gold Ltd. (CVE:SPA) shares fell 14.8% during mid-day trading on Thursday . The stock traded as low as C$0.23 and last traded at C$0.23. 1,587,679 shares changed hands during mid-day trading, an increase of 213% from the average session volume of 506,930 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

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

Spanish Mountain Gold Stock Performance

The company has a market capitalization of C$117.73 million, a price-to-earnings ratio of -24.00 and a beta of 1.28. The company has a current ratio of 5.99, a quick ratio of 3.03 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is C$0.16 and its 200 day moving average price is C$0.16.

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.