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SolGold (LON:SOLG) Trading 14% Higher - Here's Why

SolGold logo with Basic Materials background

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.
  • Need better tools to track SolGold? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

SolGold Plc (LON:SOLG - Get Free Report)'s share price was 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). Approximately 38,991,313 shares traded hands during trading, an increase of 588% from the average daily volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Trading Up 2.4%

The firm has a 50-day moving average price of GBX 8 and a 200-day moving average price of GBX 7.31. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75. The stock has a market cap of £507.05 million, a PE ratio of -8.27 and a beta of 1.20.

Insider Buying and Selling

In other SolGold news, insider Paul Smith purchased 9,587 shares of SolGold stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,289.44). In the last ninety days, insiders bought 185,842 shares of company stock valued at $1,858,420. 52.84% of the stock is currently owned by company insiders.

About SolGold

(Get Free Report)

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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