SolGold (LON:SOLG) Shares Up 19.2% - What's Next?

Key Points

• SolGold Plc shares experienced a significant increase of 19.2%, closing at GBX 18.14 ($0.24) after trading high during the day.
• Analysts have set a price target of GBX 46 for SolGold, with the stock currently holding a consensus rating of "Buy."
• Insider transactions indicate confidence in the company, as insiders purchased 185,842 shares worth over $1.8 million in the last three months.

SolGold Plc (LON:SOLG - Get Free Report) shares rose 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). 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).

Analysts Set New Price Targets

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

SolGold Trading Up 19.2%

The firm's 50 day moving average is GBX 15.04 and its 200 day moving average is GBX 9.91. The company has a market cap of £544.40 million, a PE ratio of -1,511.67 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30.

Insider Buying and Selling

In related news, insider Paul Smith purchased 41,831 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of GBX 10 per share, with a total value of £4,183.10. Over the last three months, insiders have purchased 185,842 shares of company stock valued at $1,858,420. 4.86% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.