SolGold (LON:SOLG) Trading Up 13.1% - What's Next?

Key Points

• SolGold Plc shares increased by 13.1%, reaching GBX 11.30 ($0.15) during mid-day trading, significantly surpassing its previous closing price of GBX 9.99 ($0.13).
• The trading volume surged to 16.4 million shares, over 202% higher than the average session volume of 5.4 million shares.
• In the past ninety days, insiders purchased 185,842 shares worth approximately $1.86 million, indicating strong insider confidence in the company's prospects.

SolGold Plc (LON:SOLG - Get Free Report)'s share price rose 13.1% during mid-day trading on Saturday . The company traded as high as GBX 11.30 ($0.15) and last traded at GBX 11.30 ($0.15). Approximately 16,444,152 shares were traded during mid-day trading, an increase of 202% from the average daily volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

SolGold Stock Performance

The firm's fifty day moving average price is GBX 7.40 and its 200-day moving average price is GBX 7.10. 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 firm has a market cap of £483.05 million, a price-to-earnings ratio of -7.88 and a beta of 1.20.

Insider Activity

In other SolGold news, insider Paul Smith purchased 41,831 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,554.51). In the last ninety days, insiders have acquired 185,842 shares of company stock valued at $1,858,420. Corporate insiders own 52.84% 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.