SolGold (LON:SOLG) Shares Up 19.2% - Here's Why

Key Points

• SolGold shares surged by 19.2% on Monday, reaching prices of GBX 18.20 ($0.24) with a trading volume increase of 317% compared to the average.
• Canaccord Genuity has given SolGold a "speculative buy" rating with a price target of GBX 46, while the stock currently holds a consensus rating of "Buy".
• Insider purchases have totaled 185,842 shares worth approximately $1.86 million over the past three months, indicating strong internal confidence in the company's prospects.

SolGold Plc (LON:SOLG - Get Free Report) shares traded up 19.2% during trading on Monday . The stock traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). 29,363,689 shares were traded during trading, an increase of 317% from the average session volume of 7,037,392 shares. The stock had previously closed at GBX 15.22 ($0.20).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and set a GBX 46 price target on shares of SolGold in a research report on Monday, September 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 46.

SolGold Stock Performance

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 company has a market cap of £544.40 million, a P/E ratio of -1,511.67 and a beta of 1.20. The company has a 50 day moving average price of GBX 15.04 and a 200-day moving average price of GBX 9.91.

Insider Buying and Selling

In related news, insider Paul Smith bought 41,831 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of GBX 10 per share, with a total value of £4,183.10. Insiders bought a total of 185,842 shares of company stock worth $1,858,420 over the last three months. 4.86% of the stock is currently 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.

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