SolGold (LON:SOLG) Shares Up 13.1% - Still a Buy?

Key Points

• SolGold's stock price increased by 13.1% during trading, reaching GBX 11.30 ($0.15), with trading volume exceeding 16 million shares, a 202% increase from average volumes.
• The company has a market capitalization of £423.79 million and exhibits high insider ownership, with insiders acquiring a total of 185,842 shares valued at approximately $1.86 million over the last three months.
• SolGold focuses on exploring and developing copper-gold deposits in Ecuador's Andean Copper Belt, an area known for rich mineral resources.

SolGold Plc (LON:SOLG - ) shares shot up 13.1% during trading on Saturday . The company traded as high as GBX 11.30 ($0.15) and last traded at GBX 11.30 ($0.15). 16,444,152 shares traded hands during trading, an increase of 202% from the average session volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

SolGold Stock Up 13.1%

The firm's fifty day moving average is GBX 7.40 and its 200-day moving average is GBX 7.11. The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The stock has a market capitalization of £423.79 million, a P/E ratio of -6.91 and a beta of 1.20.

Insider Buying and Selling

In other SolGold news, insider Paul Smith purchased 9,587 shares of the stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of GBX 10 ($0.13) per share, for a total transaction of £958.70 ($1,272.50). Insiders bought a total of 185,842 shares of company stock valued at $1,858,420 in the last ninety days. Corporate insiders own 52.84% of the company's stock.

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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