SolGold (LON:SOLG) Shares Up 14% - Time to Buy?

Key Points

• SolGold Plc shares increased sharply by 14% on Monday, with trading volume climbing to nearly 39 million shares, a 588% rise compared to average volumes.
• The company holds a market capitalization of £484.55 million and has strong liquidity ratios, including a quick ratio of 2.30 and a current ratio of 3.75.
• Insider purchases indicate confidence in the company, with 185,842 shares acquired by insiders over the past 90 days, and insiders collectively own 52.84% of the stock.

SolGold Plc (LON:SOLG - ) shot up 14% on Monday . The company traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). 38,991,313 shares were traded during 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 Stock Up 0.3%

The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66. The business has a fifty day simple moving average of GBX 7.40 and a two-hundred day simple moving average of GBX 7.10. The company has a market capitalization of £484.55 million, a price-to-earnings ratio of -7.91 and a beta of 1.20.

Insider Activity at SolGold

In other news, insider Paul Smith acquired 41,831 shares of SolGold stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,559.68). Over the last 90 days, insiders purchased 185,842 shares of company stock valued at $1,858,420. 52.84% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.