SolGold (LON:SOLG) Shares Up 11.3% After Insider Buying Activity

Key Points

• Shares of SolGold Plc surged by 11.3% on Friday, closing at GBX 11.12 ($0.15), following significant insider buying activity by Paul Smith, who purchased multiple blocks of shares.
• Trading volume for the stock increased dramatically, with 30,581,266 shares exchanged—an increase of 452% compared to the average session volume.
• SolGold is recognized as a leading exploration company in Ecuador, focusing on the development of copper-gold deposits in a region rich in mineral resources.

Shares of SolGold Plc (LON:SOLG - Get Free Report) shot up 11.3% on Friday following insider buying activity. The company traded as high as GBX 11.12 ($0.15) and last traded at GBX 11.12 ($0.15). 30,581,266 shares traded hands during trading, an increase of 452% from the average session volume of 5,535,215 shares. The stock had previously closed at GBX 9.99 ($0.13).

Specifically, insider Paul Smith purchased 9,587 shares of the stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of GBX 10 ($0.13) per share, for a total transaction of £958.70 ($1,266.45). Also, insider Paul Smith purchased 8,479 shares of the stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of GBX 10 ($0.13) per share, for a total transaction of £847.90 ($1,120.08). In other SolGold news, insider Paul Smith purchased 31,184 shares of the stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of GBX 10 ($0.13) per share, for a total transaction of £3,118.40 ($4,119.42).

SolGold Stock Up 11.5%

The business has a 50 day simple moving average of GBX 7.32 and a 200 day simple moving average of GBX 7.08. 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 stock has a market cap of £417.79 million, a PE ratio of -6.82 and a beta of 1.20.

SolGold Company Profile

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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