Spanish Mountain Gold (CVE:SPA) Share Price Passes Below 50 Day Moving Average – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.16 and traded as low as C$0.14. Spanish Mountain Gold shares last traded at C$0.14, with a volume of 600 shares trading hands.

Spanish Mountain Gold Stock Performance

The business’s 50 day moving average is C$0.16 and its two-hundred day moving average is C$0.18. The company has a quick ratio of 3.03, a current ratio of 5.99 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of C$50.77 million, a P/E ratio of -13.00 and a beta of 1.87.

Insider Activity at Spanish Mountain Gold

In related news, Director Lembit Janes acquired 180,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of C$0.17 per share, for a total transaction of C$29,782.50. Company insiders own 33.34% of the company’s stock.

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.