SolGold (LON:SOLG) Shares Up 19.2% - Still a Buy?

Key Points

• SolGold Plc shares surged by 19.2% on Monday, increasing from GBX 15.22 to as high as GBX 18.20, with a significant trading volume increase of 317%.
• Analysts from Canaccord Genuity have reaffirmed a "speculative buy" rating for SolGold, with a target price set at GBX 46, indicating potential for substantial growth.
• Insider transactions have been notable, with Paul Smith acquiring 41,831 shares recently, while insider ownership now stands at 4.86% of the company’s stock.

Shares of SolGold Plc (LON:SOLG - Get Free Report) shot up 19.2% on Monday . The company traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). 29,363,689 shares changed hands during mid-day 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).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 46 price objective on shares of SolGold in a research note on Monday, September 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, SolGold currently has an average rating of "Buy" and an average target price of GBX 46.

SolGold Stock Up 19.2%

The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The business has a 50 day moving average price of GBX 15.04 and a 200 day moving average price of GBX 9.91. The firm has a market capitalization of £544.40 million, a P/E ratio of -1,511.67 and a beta of 1.20.

Insider Activity at SolGold

In other SolGold news, insider Paul Smith acquired 41,831 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of GBX 10 per share, for a total transaction of £4,183.10. Insiders bought 185,842 shares of company stock valued at $1,858,420 in the last 90 days. 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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