Spanish Mountain Gold (CVE:SPA) Trading Up 13.8% – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price was up 13.8% on Tuesday . The stock traded as high as C$0.17 and last traded at C$0.17. Approximately 1,342,706 shares traded hands during mid-day trading, an increase of 186% from the average daily volume of 470,079 shares. The stock had previously closed at C$0.15.

Analysts Set New Price Targets

Separately, Atrium Research upgraded shares of 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, According to data from MarketBeat, Spanish Mountain Gold presently has a consensus rating of “Strong Buy”.

Spanish Mountain Gold Stock Down 5.7%

The company has a market capitalization of C$80.89 million, a P/E ratio of -16.50 and a beta of 1.09. 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 fifty day moving average is C$0.14 and its 200 day moving average is C$0.15.

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.