SolGold (LON:SOLG) Reaches New 1-Year High - What's Next?

Key Points

• SolGold's share price reached a new 52-week high of GBX 17.18 ($0.23) during trading, with a strong trading volume of over 49 million shares.
• Canaccord Genuity Group has set a price target of GBX 46 and reaffirmed a "speculative buy" rating, while the stock has an overall consensus rating of "Buy."
• Insiders have shown confidence in the company by purchasing 185,842 shares valued at approximately $1.86 million over the last three months.

Shares of SolGold Plc (LON:SOLG - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 17.18 ($0.23) and last traded at GBX 17.04 ($0.23), with a volume of 49844207 shares trading hands. The stock had previously closed at GBX 16.42 ($0.22).

Wall Street Analyst Weigh In

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

SolGold Price Performance

The company has a market capitalization of £492.18 million, a PE ratio of -1,490.91 and a beta of 1.20. The firm has a 50-day moving average of GBX 12.77 and a 200 day moving average of GBX 8.96. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30.

Insider Activity at SolGold

In other SolGold news, insider Paul Smith bought 41,831 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of GBX 10 per share, with a total value of £4,183.10. Over the last three months, insiders acquired 185,842 shares of company stock valued at $1,858,420. Insiders own 4.83% of the company's stock.

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.