Spanish Mountain Gold (CVE:SPA) Stock Price Up 7.7% – Here’s Why

Spanish Mountain Gold Ltd. (CVE:SPA) shares shot up 7.7% during trading on Wednesday . The company traded as high as C$0.15 and last traded at C$0.14. 761,000 shares traded hands during mid-day trading, an increase of 155% from the average session volume of 298,144 shares. The stock had previously closed at C$0.13.

Spanish Mountain Gold Trading Down 6.9 %

The company has a market cap of C$52.73 million, a PE ratio of -13.50 and a beta of 1.87. 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 stock has a 50 day moving average price of C$0.11 and a 200 day moving average price of C$0.13.

Insider Activity

In other news, Director Lembit Janes bought 912,000 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average price of C$0.12 per share, for a total transaction of C$109,440.00. Insiders bought a total of 2,684,500 shares of company stock worth $284,173 in the last quarter. 33.34% of the stock is owned by company insiders.

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.