SolGold (LON:SOLG) Trading 25.9% Higher - Here's What Happened

Key Points

• Shares of SolGold Plc surged by 25.9%, reaching a trading high of GBX 15.10 ($0.20) with a total volume of over 43 million shares, significantly above its average volume.
• The company specializes in exploration for copper-gold deposits in Ecuador and has a market cap of approximately £561.81 million.
• Recent insider activity included purchases of 185,842 shares in the past three months, indicating strong confidence from insiders, who currently hold 52.84% of the company's stock.

SolGold Plc (LON:SOLG - Get Free Report)'s share price shot up 25.9% during trading on Saturday . The stock traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). 43,666,074 shares were traded during mid-day trading, an increase of 598% from the average session volume of 6,257,646 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Stock Up 25.9%

The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66. The company has a market cap of £561.81 million, a PE ratio of -9.17 and a beta of 1.20. The stock has a 50-day moving average of GBX 8.62 and a 200-day moving average of GBX 7.52.

Insider Buying and Selling

In other news, insider Paul Smith bought 41,831 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of GBX 10 ($0.14) per share, with a total value of £4,183.10 ($5,669.69). Insiders acquired a total of 185,842 shares of company stock valued at $1,858,420 over the last quarter. 52.84% of the stock is owned by corporate 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.