SPMT.CN Spearmint Resources (CNQ) down 33% on 24 Feb 2026: short-term risks ahead
SPMT.CN stock plunged 33.33% to C$0.005 on 24 Feb 2026 during Canadian market hours, making Spearmint Resources Inc. one of the day’s top losers on the CNQ. Trading volume surged to 1,013,000 shares, roughly 22.24x the 50-day average, indicating heavy sell-side pressure. The stock opened at C$0.005, hit a high of C$0.0075 and a low of C$0.005, with a prior close of C$0.0075. We break down drivers, key ratios, Meyka AI grade and forecast, and realistic price scenarios to help investors assess the short-term risk and longer-term outcomes for SPMT.CN stock.
SPMT.CN stock: Market moves and immediate drivers
Today’s drop in SPMT.CN stock to C$0.005 followed a heavy volume spike of 1,013,000 shares versus average volume 45,554, signaling forced selling or liquidity rotation. One clear driver is the mismatch between current trading and longer-term averages: 50-day average price is C$0.13 and 200-day is C$0.18, highlighting persistent downtrend. This section isolates market mechanics rather than a specific corporate announcement, since no new earnings release was logged for the session.
SPMT.CN stock: Financials and valuation snapshot
Spearmint Resources reports EPS of -0.01 and a trailing PE of -0.50, reflecting negative earnings. Market capitalization stands at C$1,439,145 with 287,829,000 shares outstanding. Key ratios show low liquidity: current ratio 0.22 and book value per share C$0.06. Compared with the Basic Materials group average PE of 29.76, SPMT.CN stock shows distressed valuation metrics and limited operating cash flow.
SPMT.CN stock: Technicals and trading profile
Technically, the stock trades at its year low C$0.005 versus a year high of C$0.30, and the 50/200-day averages sit well above current price. RelVolume is 22.24, ATR 0.01, and PriceAvg50 C$0.13, indicating extreme volatility and thin bid depth. These indicators suggest scalpers and short-term traders dominate the tape, increasing execution and liquidity risk for longer-term holders.
SPMT.CN stock: Meyka AI grade and model forecast
Meyka AI rates SPMT.CN with a score of 58.90 out of 100 — Grade C+ with a suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Meyka AI’s forecast model projects C$0.00 over the next year, which implies -100.00% versus the current price C$0.005. Forecasts are model-based projections and not guarantees.
SPMT.CN stock: Risks, catalysts and sector view
Primary risks are continued low liquidity, negative earnings, and a cash runway concern given operating cash flow per share -0.00749. Catalysts would include positive assay results at McGee Lithium Clay, a financing that strengthens the balance sheet, or sector rotation into Basic Materials. The Basic Materials sector has seen YTD strength, but SPMT.CN stock currently underperforms peers and the sector average metrics, leaving limited tailwinds without company-specific news.
SPMT.CN stock: Price targets and scenario planning
Scenario targets: conservative short-term target C$0.01 (100.00% upside from C$0.005), base-case 12-month target C$0.02 (300.00% upside), and optimistic exploration-driven target C$0.05 if financing and drilling results materialize. Downside case places liquidity-driven support near C$0.002. These targets reflect scenario analysis, not consensus; adjust for dilution risk and potential financings.
Final Thoughts
SPMT.CN stock closed at C$0.005 on 24 Feb 2026 after a 33.33% drop and heavy volume, underlining a high-risk trading profile. Financials show negative EPS -0.01, a negative PE -0.50, low current ratio 0.22, and book value per share C$0.06, which together point to constrained liquidity and operational losses. Meyka AI’s score of 58.90/100 (C+, HOLD) balances sector opportunity with weak company metrics. Meyka AI’s forecast model currently projects C$0.00, implying a theoretical downside of -100.00% versus today’s price; this underscores model conservatism and the sensitivity to zero-revenue assumptions. For active traders, short-term setups may exist given large intraday moves and high relative volume, but long-term investors should demand clearer funding plans, drilling results or strategic partnerships before adding SPMT.CN stock to a portfolio. Our scenario targets—C$0.01 (near term), C$0.02 (base), C$0.05 (bull)—reflect path-dependent outcomes driven by financing and exploration success. Forecasts and grades are model outputs and not guarantees; perform your own due diligence and monitor company filings and press releases for material updates. Meyka AI provides this as an AI-powered market analysis platform insight to guide further research.
FAQs
Why did SPMT.CN stock fall today?
SPMT.CN stock fell on 24 Feb 2026 largely due to heavy selling and low liquidity; volume jumped to 1,013,000 versus avg 45,554. No new earnings were released, so market mechanics and risk-off trading likely drove the drop.
What is the Meyka AI view on SPMT.CN stock?
Meyka AI rates SPMT.CN with a score of 58.90/100 (Grade C+, HOLD). The grade factors in sector comparison, key metrics and forecasts. This is informational and not investment advice.
What are realistic price targets for SPMT.CN stock?
Scenario targets: near-term C$0.01, base 12-month C$0.02, bull C$0.05. Targets assume no immediate dilution and positive drilling or financing outcomes; they are not guarantees.
Is SPMT.CN stock a buy for long-term investors?
Given negative EPS, low current ratio, and high volatility, SPMT.CN stock currently carries high risk. Long-term investors should wait for a clear funding plan, exploration success or improved cash flow before buying.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.