Spanish Mountain Gold shares surged 26.5% on Monday on heavy trading volume, though the cause remains unclear.

Spanish Mountain Gold (CVE:SPA) shares jumped 26.5% on Monday, reaching a high of C$0.22 and closing at that level, driven by a surge in trading volume to 3.02 million shares—518% above average. The exploration-stage Canadian resource company, which owns the 100% interest in the Spanish Mountain gold project in British Columbia, has a market cap of C$105.4 million and a consensus “Strong Buy” rating. Despite a negative P/E ratio of -21.50, strong liquidity and a debt-to-equity ratio of 0.26 indicate solid financial health. The stock’s 50-day and 200-day moving averages both stand at C$0.15. The cause of the rally is not specified.