Market Fluctuations Impact Spanish Mountain Gold Ltd.
Market fluctuations have recently impacted Spanish Mountain Gold Ltd. (CVE:SPA), as its shares declined by 16.9%, closing at C$0.13. The trading activity saw a remarkable spike, with approximately 2.64 million shares exchanged—an 822% increase over the typical daily volume of around 286,290 shares. Prior to this decline, the stock ended the previous day at C$0.16.
Company Overview
Spanish Mountain Gold, a mineral exploration enterprise operating in Canada, holds full ownership of the Spanish Mountain gold project, which spans roughly 10,414 hectares in British Columbia's Cariboo region. The company's current market capitalization stands at approximately C$51.94 million, but it exhibits a negative P/E ratio of -13.30, reflecting current financial losses.
Financial Metrics
The company's financial health shows a debt-to-equity ratio of 0.26, a quick ratio of 3.03, and a current ratio of 5.99. Its stock price movements are tracked against a 50-day simple moving average of C$0.17 and a 200-day average of C$0.14. The stock’s beta is 1.87, indicating sensitivity to market movements.