SolGold (LON:SOLG) Sets New 12-Month High - What's Next?

Key Points

• SolGold shares hit a new 52-week high at GBX 16.88 ($0.23), with a trading volume of over 8.5 million shares, up from a previous close of GBX 15.70 ($0.21).
• Canaccord Genuity maintains a "speculative buy" rating for SolGold, with a target price of GBX 46, while the average analyst rating remains a “Buy”.
• Insiders have been actively buying shares, with transactions totaling 185,842 shares valued at approximately $1.86 million in the last three months.

Shares of SolGold Plc (LON:SOLG - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 16.88 ($0.23) and last traded at GBX 16.66 ($0.23), with a volume of 8574377 shares trading hands. The stock had previously closed at GBX 15.70 ($0.21).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 46 price objective on shares of SolGold in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, SolGold currently has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Price Performance

The business has a fifty day moving average of GBX 11.97 and a two-hundred day moving average of GBX 8.67. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75. The firm has a market capitalization of £492.78 million, a price-to-earnings ratio of -1,492.73 and a beta of 1.20.

Insiders Place Their Bets

In other SolGold news, insider Paul Smith purchased 9,587 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of GBX 10 per share, for a total transaction of £958.70. In the last quarter, insiders acquired 185,842 shares of company stock valued at $1,858,420. 4.83% of the stock is currently owned by corporate insiders.

About SolGold

SolGold is a leading exploration company focussed on the discovery, definition and development of world-class copper-gold deposits. SolGold has a first mover advantage in Ecuador, a highly prospective yet under-explored section of the Andean Copper Belt, home of multiple Tier 1 copper and gold projects and half of the world's copper resources.