SolGold (LON:SOLG) Stock Price Up 18.1% - Time to Buy?

Key Points

• SolGold's shares surged 18.1% on Monday, trading as high as GBX 18.20 after previously closing at GBX 15.22, with a significant increase in trading volume.
• Canaccord Genuity has set a target price of GBX 46 for SolGold, maintaining a "speculative buy" rating, while an analyst consensus also supports a "Buy" rating for the stock.
• Insider activity shows confidence in the company, as insiders purchased a total of 185,842 shares in the past 90 days, accounting for 4.86% of the company's total stock ownership.

SolGold Plc (LON:SOLG - Get Free Report) shares rose 18.1% during trading on Monday . The stock traded as high as GBX 18.20 ($0.24) and last traded at GBX 17.98 ($0.24). Approximately 83,405,961 shares changed hands during trading, an increase of 1,041% from the average daily volume of 7,310,333 shares. The stock had previously closed at GBX 15.22 ($0.20).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 46 target price on shares of SolGold in a research note on Monday, September 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, SolGold presently has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Price Performance

The stock has a market capitalization of £544.40 million, a price-to-earnings ratio of -1,511.67 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. The stock has a fifty day moving average of GBX 15.04 and a 200-day moving average of GBX 9.91.

Insider Activity

In other news, insider Paul Smith bought 41,831 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of GBX 10 per share, for a total transaction of £4,183.10. Insiders bought a total of 185,842 shares of company stock worth $1,858,420 over the last 90 days. Company insiders own 4.86% 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.

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