At first I thought it was a sporter that someone had put back to original condition but the Turk Cresent on the bolt sleeve is correct for the 1891/1894 Spanish carbine. It may have been re-stocked in the past but there is know way of knowing for sure as these did not have serial numbers. Although, there is a Spanish "Star" proof stamped on the hand guard. Everything appears to be correct except for the nose piece.
The nose piece is marked with the Brazilian (B inside a circle) proof. This is in itself a rare find. After researching the Argy 1891, there were several South American countries that purchased them. It was thought that some went to Brazil but no proof. This nose cap is a good indication that Brazil did indeed purchase some of the carbines.