SolGold (LON:SOLG) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• SolGold's stock price crossed above its 50-day moving average of GBX 8.24, reaching a high of GBX 13.52 during trading, currently sitting at GBX 13.14.
• The company has a market capitalization of £486.80 million and a P/E ratio of -7.94, indicating significant volatility and potential challenges.
• Insider Paul Smith recently purchased 9,587 shares of SolGold, contributing to a total of 185,842 shares bought by insiders in the past three months, representing a strong internal confidence in the company's future.

SolGold Plc (LON:SOLG - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 8.24 ($0.11) and traded as high as GBX 13.52 ($0.18). SolGold shares last traded at GBX 13.14 ($0.18), with a volume of 6,902,744 shares trading hands.

SolGold Trading Up 25.9%

The firm has a market capitalization of £561.81 million, a PE ratio of -9.17 and a beta of 1.20. The firm's 50-day simple moving average is GBX 8.62 and its 200-day simple moving average is GBX 7.52. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66.

Insider Activity at SolGold

In other news, insider Paul Smith acquired 41,831 shares of the stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 ($0.14) per share, with a total value of £4,183.10 ($5,669.69). Insiders have bought 185,842 shares of company stock worth $1,858,420 over the last ninety days. Corporate insiders own 52.84% 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.