SolGold (LON:SOLG) Hits New 52-Week High - Time to Buy?

Key Points

• SolGold Plc's stock reached a new 52-week high of GBX 18.78 ($0.25) during trading, having recently closed at GBX 18.14 ($0.24) with a significant trading volume of nearly 99 million shares.
• Canaccord Genuity has restated a "speculative buy" rating for SolGold, setting a price target of GBX 46, which suggests potential upside based on analysts' consensus ratings.
• Insider Paul Smith purchased 41,831 shares at an average price of GBX 10, indicating confidence among company insiders, who collectively bought 185,842 shares over the past three months.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 18.78 ($0.25) and last traded at GBX 18.76 ($0.25), with a volume of 98914578 shares changing hands. The stock had previously closed at GBX 18.14 ($0.24).

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 46 price target on shares of SolGold in a report on Monday, September 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, SolGold presently has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Stock Performance

The stock's 50-day simple moving average is GBX 15.27 and its two-hundred day simple moving average is GBX 10.05. The stock has a market cap of £563.01 million, a price-to-earnings ratio of -1,563.33 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

Insider Activity at SolGold

In related news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price of GBX 10 per share, with a total value of £4,183.10. Insiders have bought a total of 185,842 shares of company stock worth $1,858,420 over the last three months. 4.86% of the stock is currently owned by corporate insiders.

SolGold Company Profile

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.

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