SolGold (LON:SOLG) Shares Up 14% - Should You Buy?

Key Points

• SolGold's stock price surged 14% during trading, reaching a high of GBX 13.54 ($0.18) and closing at GBX 12.88 ($0.17), with trading volume increasing by 588% from its average.
• The company has a market cap of £483.05 million and a PE ratio of -7.88, indicating a negative earnings situation.
• Insiders have shown confidence in the company by acquiring a total of 185,842 shares over the last ninety days, representing 52.84% of the stock currently owned by insiders.

SolGold Plc (LON:SOLG - Get Free Report) traded up 14% during trading on Monday . The stock traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). 38,991,313 shares traded hands during mid-day trading, an increase of 588% from the average session volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Price Performance

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 company's 50 day moving average is GBX 7.87 and its 200 day moving average is GBX 7.27. The stock has a market cap of £507.05 million, a price-to-earnings ratio of -8.27 and a beta of 1.20.

Insiders Place Their Bets

In other SolGold news, insider Paul Smith bought 41,831 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,625.47). In the last ninety days, insiders have bought 185,842 shares of company stock worth $1,858,420. Company 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.