SolGold (LON:SOLG) Shares Down 7.3% - Here's What Happened

Key Points

• SolGold Plc shares fell by 7.3% to close at GBX 11.90 ($0.16), with trading volume significantly exceeding the average daily amount.
• Company insider Paul Smith purchased 41,831 shares at an average price of GBX 10 ($0.14), part of a total of 185,842 shares bought by insiders in the last ninety days.
• SolGold is focused on exploring and developing copper-gold deposits in Ecuador, a key region for mining opportunities.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price was down 7.3% during mid-day trading on Friday . The company traded as low as GBX 11.64 ($0.16) and last traded at GBX 11.90 ($0.16). Approximately 13,772,798 shares were traded during trading, an increase of 129% from the average daily volume of 6,019,375 shares. The stock had previously closed at GBX 12.84 ($0.17).

SolGold Price Performance

The firm's fifty day simple moving average is GBX 8.77 and its 200 day simple moving average is GBX 7.57. The firm has a market cap of £537.80 million, a P/E ratio of -8.78 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 other news, insider Paul Smith bought 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, for a total transaction of £4,183.10 ($5,650.55). In the last ninety days, insiders purchased 185,842 shares of company stock worth $1,858,420. 52.84% 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.