SolGold (LON:SOLG) Share Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• SolGold shares have surpassed their 50-day moving average, trading as high as GBX 16.66 ($0.23) on Monday, with the last price at GBX 15.98 ($0.22).
• Canaccord Genuity Group maintains a "speculative buy" rating on SolGold, with a target price of GBX 46, while the stock has a consensus rating of "Buy" from analysts.
• Insider activity shows significant confidence in the company, as insiders purchased a total of 185,842 shares in the last 90 days, highlighting their commitment to the firm’s potential growth.

SolGold Plc (LON:SOLG - Get Free Report) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 13.15 ($0.18) and traded as high as GBX 16.66 ($0.23). SolGold shares last traded at GBX 15.98 ($0.22), with a volume of 8,732,136 shares changing hands.

Wall Street Analysts Forecast Growth

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

SolGold Price Performance

The stock has a 50-day moving average price of GBX 13.15 and a 200 day moving average price of GBX 9.14. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The firm has a market cap of £472.97 million, a price-to-earnings ratio of -1,432.73 and a beta of 1.20.

Insider Activity at SolGold

In other news, insider Paul Smith bought 9,587 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of GBX 10 per share, for a total transaction of £958.70. Insiders bought a total of 185,842 shares of company stock worth $1,858,420 in the last 90 days. 4.83% of the stock is currently owned by 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.

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