SolGold (LON:SOLG) Shares Up 13.1% - Should You Buy?

Key Points

• SolGold's stock price increased by 13.1%, reaching GBX 11.30 ($0.15) during mid-day trading on Saturday, with trading volume surging to 16.4 million shares—an increase of 202% compared to its average session volume.
• Insider purchases totaled 185,842 shares valued at $1.86 million over the last quarter, indicating strong confidence from company insiders, who own 52.84% of the company's stock.
• SolGold is focused on the exploration and development of copper-gold deposits in Ecuador, a region identified as under-explored yet highly prospective within the Andean Copper Belt.

SolGold Plc (LON:SOLG - Get Free Report) shot up 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). 16,444,152 shares were traded during trading, an increase of 202% from the average session volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

SolGold Price Performance

The business's 50-day simple moving average is GBX 7.40 and its 200-day simple moving average is GBX 7.10. The stock has a market cap of £483.05 million, a PE ratio of -7.88 and a beta of 1.20. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66.

Insider Activity

In other SolGold news, insider Paul Smith acquired 41,831 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average price of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,559.68). Insiders have bought a total of 185,842 shares of company stock worth $1,858,420 in the last 90 days. 52.84% of the stock is owned by 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.