Spanish Mountain Gold (CVE:SPA) Trading 7.7% Higher - Here's Why

Key Points

• Spanish Mountain Gold Ltd. (CVE:SPA) shares increased by 7.7% on Tuesday, trading as high as C$0.15 before closing at C$0.14.
• The stock experienced a volume surge, with over 3 million shares traded, marking an 808% increase from the average session volume.
• Spanish Mountain Gold is focused on mineral property acquisition and exploration, holding a 100% interest in the Spanish Mountain gold project in British Columbia.

Spanish Mountain Gold Ltd. (CVE:SPA - Get Free Report)'s stock price traded up 7.7% on Tuesday . The company traded as high as C$0.15 and last traded at C$0.14. 3,264,172 shares changed hands during mid-day trading, an increase of 808% from the average session volume of 359,486 shares. The stock had previously closed at C$0.13.

Wall Street Analysts Forecast Growth

Separately, Atrium Research raised shares of Spanish Mountain Gold to a "strong-buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Spanish Mountain Gold presently has an average rating of "Strong Buy".

Spanish Mountain Gold Trading Up 3.8%

The business's 50-day moving average price is C$0.15 and its two-hundred day moving average price is C$0.15. 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 firm has a market cap of C$66.18 million, a price-to-earnings ratio of -13.50 and a beta of 0.70.

Spanish Mountain Gold Company Profile

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.