Spanish Mountain Gold (CVE:SPA) Stock Price Down 16.9% - Here's What Happened

Key Points

• Spanish Mountain Gold Ltd. experienced a significant stock price decline of 16.9% in a single trading day, dropping to C$0.13 from its previous close of C$0.16.
• The trading volume surged to 2,640,225 shares, an 822% increase compared to the average session volume.
• The company holds a 100% interest in the Spanish Mountain gold project, located in the Cariboo region of British Columbia.

Spanish Mountain Gold Ltd. (CVE:SPA - )'s stock price fell 16.9% during trading on Thursday . The company traded as low as C$0.13 and last traded at C$0.13. 2,640,225 shares were traded during mid-day 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 Trading Down 16.9%

The firm's 50-day simple moving average is C$0.17 and its 200-day simple moving average is C$0.14. The firm has a market capitalization of C$51.94 million, a PE ratio of -13.30 and a beta of 1.87. The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.