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

Spanish Mountain Gold Ltd. (CVE:SPA)’s share price 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.

Spanish Mountain Gold Stock Performance

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’s 50-day simple moving average is C$0.16 and its 200 day simple moving average is C$0.18. The stock has a market capitalization of C$50.77 million, a P/E ratio of -13.00 and a beta of 1.87.

Insiders Place Their Bets

In related news, Director Lembit Janes purchased 180,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of C$0.17 per share, with a total value of C$29,782.50. 33.34% of the stock is owned by company insiders.

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.