SolGold (LON:SOLG) Shares Up 14% - What's Next?

Key Points

• SolGold Plc's shares surged 14% during trading on Tuesday, reaching a high of GBX 13.54 ($0.18) after closing at GBX 11.30 ($0.15), with trading volume increasing by 588% from average levels.
• The company's current ratios indicate strong liquidity, with a current ratio of 3.75 and a debt-to-equity ratio of 78.66.
• Insider transactions have been notable, with insiders buying 185,842 shares valued at $1,858,420 over the last ninety days, indicating confidence in the company.

SolGold Plc (LON:SOLG - Get Free Report) rose 14% on Tuesday . The company traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). Approximately 38,991,313 shares changed 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 Stock Performance

The company has a market cap of £507.05 million, a P/E ratio of -8.27 and a beta of 1.20. 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 stock has a 50 day moving average price of GBX 8 and a two-hundred day moving average price of GBX 7.31.

Insider Buying and Selling at SolGold

In other news, insider Paul Smith bought 41,831 shares of the stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,626.23). Insiders purchased a total of 185,842 shares of company stock worth $1,858,420 in the last 90 days. 52.84% of the stock is currently owned by company 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.