SolGold (LON:SOLG) Shares Up 19.2% - Should You Buy?

Key Points

• SolGold's shares surged 19.2% on Monday, climbing to GBX 18.14 ($0.24) after trading volume increased significantly to approximately 29.36 million shares.
• Analysts maintain a "speculative buy" rating on SolGold, with a price target of GBX 46, indicating potential upside based on market evaluations.
• Insider activity shows confidence in the company, with insiders acquiring 185,842 shares worth approximately $1.86 million over the past 90 days.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price rose 19.2% on Monday . The stock traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). Approximately 29,363,689 shares traded hands during mid-day trading, an increase of 317% from the average daily 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 objective on shares of SolGold in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Trading Up 19.2%

The stock 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 current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The company has a 50-day moving average price of GBX 15.04 and a two-hundred day moving average price of GBX 9.91.

Insider Buying and Selling

In other SolGold news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of GBX 10 per share, with a total value of £4,183.10. Over the last 90 days, insiders acquired 185,842 shares of company stock valued at $1,858,420. Corporate insiders own 4.86% 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.

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