Spanish Mountain Gold (CVE:SPA) Trading Down 16.9% - Here's Why

Key Points

• Shares of Spanish Mountain Gold Ltd. (CVE:SPA) dropped by 16.9% on Friday, trading at C$0.13 with a significant increase in volume.
• The company has a market cap of C$51.94 million and a negative P/E ratio of -13.30.
• Spanish Mountain Gold is focused on exploration and development of mineral properties in Canada, specifically holding a 100% interest in the Spanish Mountain gold project.

Spanish Mountain Gold Ltd. (CVE:SPA - Get Free Report) shares fell 16.9% during mid-day trading on Friday . The company traded as low as C$0.13 and last traded at C$0.13. 2,640,225 shares changed hands during trading, an increase of 822% from the average session volume of 286,290 shares. The stock had previously closed at C$0.16.

Spanish Mountain Gold Stock Up 1.5%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.03 and a current ratio of 5.99. The firm has a market capitalization of C$52.73 million, a PE ratio of -13.50 and a beta of 1.87. The company's 50 day simple moving average is C$0.17 and its 200-day simple moving average is C$0.14.

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.