SolGold (LON:SOLG) Trading 22.7% Higher - What's Next?

Key Points

• SolGold's stock increased by 22.7%, reaching a trading high of GBX 14.96 ($0.20) during mid-day trading and significantly exceeding its average session volume by 725%.
• The company has a current debt-to-equity ratio of 78.66 and a market capitalization of £547.93 million.
• Insider activity indicates confidence in the company, with insiders owning 52.84% of the stock and purchasing a total of 185,842 shares over the last 90 days.

SolGold Plc (LON:SOLG - Get Free Report) shares shot up 22.7% on Friday . The company traded as high as GBX 14.96 ($0.20) and last traded at GBX 14.60 ($0.20). 54,820,410 shares traded hands during mid-day trading, an increase of 766% from the average session volume of 6,328,243 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Stock Performance

The company has a market cap of £539.79 million, a price-to-earnings ratio of -8.81 and a beta of 1.20. The stock's fifty day simple moving average is GBX 8.77 and its two-hundred day simple moving average is GBX 7.57. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

Insider Buying and Selling at SolGold

In related news, insider Paul Smith purchased 41,831 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of GBX 10 per share, for a total transaction of £4,183.10. In the last quarter, insiders have acquired 185,842 shares of company stock valued at $1,858,420. 52.84% of the stock is 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.