Spanish Mountain Gold (CVE:SPA) Trading Down 15.6% - Here's Why

Key Points

• Spanish Mountain Gold Ltd. shares fell 15.6% to a trading low of C$0.13 on Thursday, with a significant increase in trading volume reaching 2.4 million shares.
• The company has a market cap of C$51.94 million and reports a PE ratio of -13.30, indicating negative earnings.
• Spanish Mountain Gold is primarily involved in the acquisition and exploration of mineral properties, holding a 100% interest in the Spanish Mountain gold project, which spans approximately 10,414 hectares in British Columbia.

Spanish Mountain Gold Ltd. (CVE:SPA - Get Free Report)'s share price fell 15.6% during mid-day trading on Thursday . The stock traded as low as C$0.13 and last traded at C$0.14. 2,421,334 shares changed hands during mid-day trading, an increase of 750% from the average session volume of 284,840 shares. The stock had previously closed at C$0.16.

Spanish Mountain Gold Price Performance

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 stock's 50 day simple moving average is C$0.17 and its two-hundred day simple moving average is C$0.14. The stock has a market cap of C$52.73 million, a price-to-earnings ratio of -13.50 and a beta of 1.87.

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.