Spanish Mountain Gold (CVE:SPA) Trading Down 16.9% - What's Next?

Key Points

• Spanish Mountain Gold Ltd. saw its shares drop by 16.9%, closing at C$0.13, amid a significant increase in trading volume.
• The company's financial ratios demonstrate a strong liquidity position with a current ratio of 5.99 and a quick ratio of 3.03.
• Spanish Mountain Gold holds a 100% interest in the Spanish Mountain gold project located in British Columbia, covering an area of approximately 10,414 hectares.

Shares of Spanish Mountain Gold Ltd. (CVE:SPA - ) dropped 16.9% on Thursday . The stock traded as low as C$0.13 and last traded at C$0.13. Approximately 2,640,225 shares were traded during mid-day trading, an increase of 822% from the average daily volume of 286,290 shares. The stock had previously closed at C$0.16.

Spanish Mountain Gold Stock Performance

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 company has a 50-day moving average price of C$0.17 and a two-hundred day moving average price of C$0.14. The stock has a market capitalization of C$51.94 million, a P/E ratio of -13.30 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.

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