SolGold (LON:SOLG) Share Price Crosses Above 50 Day Moving Average - What's Next?

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.

SolGold Plc (LON:SOLG - Get Free Report)'s share price 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 traded.

SolGold Trading Down 5.1%

The firm has a market capitalization of £560.31 million, a PE ratio of -9.14 and a beta of 1.20. The company's 50-day moving average price is GBX 10.01 and its 200-day moving average price is GBX 7.99. 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 Buying and Selling

In related news, insider Paul Smith purchased 9,587 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of GBX 10 per share, for a total transaction of £958.70. In the last quarter, insiders have acquired 185,842 shares of company stock worth $1,858,420. 52.84% 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.