SolGold (LON:SOLG) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• SolGold Plc's shares have surpassed their 50-day moving average, trading around GBX 14.26 ($0.19) after reaching a high of GBX 14.36 ($0.19).
• The company has a substantial insider ownership of 52.84%, with recent insider purchases totaling 185,842 shares valued at approximately $1.86 million.
• SolGold operates in Ecuador's Andean Copper Belt, focusing on the exploration and development of world-class copper-gold deposits.

Shares of SolGold Plc (LON:SOLG - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 9.50 ($0.13) and traded as high as GBX 14.36 ($0.19). SolGold shares last traded at GBX 14.26 ($0.19), with a volume of 5,891,015 shares trading hands.

SolGold Stock Performance

The business has a 50-day moving average of GBX 10.17 and a two-hundred day moving average of GBX 8.05. The company has a market cap of £450.77 million, a P/E ratio of -1,365.45 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30.

Insiders Place Their Bets

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