SolGold (LON:SOLG) Shares Up 14% - Here's Why

Key Points

• SolGold's stock price increased by 14% on Monday, reaching a maximum of GBX 13.54 ($0.18) during trading, with a significant 588% increase in trading volume.
• The company has a solid current ratio of 3.75 and a debt-to-equity ratio of 78.66, reflecting its financial health despite a negative PE ratio of -7.88.
• Insiders, including Paul Smith, have been actively buying shares, with a total of 185,842 shares purchased over the last quarter, indicating strong insider confidence in the company.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price shot up 14% during trading on Monday . The company traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). 38,991,313 shares were traded during mid-day trading, an increase of 588% from the average session volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Trading Up 2.4%

The company has a 50-day moving average of GBX 7.87 and a 200 day moving average of GBX 7.27. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The company has a market cap of £507.05 million, a PE ratio of -8.27 and a beta of 1.20.

Insider Buying and Selling at SolGold

In related news, insider Paul Smith purchased 41,831 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,625.47). Over the last 90 days, insiders purchased 185,842 shares of company stock worth $1,858,420. Insiders own 52.84% of the company's stock.

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.