SolGold (LON:SOLG) Stock Price Up 19.2% - What's Next?

Key Points

• SolGold's stock price increased by 19.2% on Monday, reaching a high of GBX 18.20, with over 29 million shares traded—significantly above its average session volume.
• Analysts maintain a "Buy" rating for SolGold, with Canaccord Genuity setting a target price of GBX 46 for the shares.
• Insider purchases of SolGold shares totaled £4,183.10 recently, indicating confidence from insiders with a total of 185,842 shares bought in the past three months.

SolGold Plc (LON:SOLG - Get Free Report)'s share price shot up 19.2% during trading on Monday . The company traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). 29,363,689 shares were traded during mid-day trading, an increase of 317% from the average session volume of 7,037,392 shares. The stock had previously closed at GBX 15.22 ($0.20).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and set a GBX 46 price objective on shares of SolGold in a report on Monday, September 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, SolGold has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Price Performance

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 stock has a market cap of £544.40 million, a PE ratio of -1,511.67 and a beta of 1.20. The business has a 50-day moving average price of GBX 15.15 and a 200 day moving average price of GBX 9.99.

Insider Buying and Selling at SolGold

In other SolGold news, insider Paul Smith bought 41,831 shares of SolGold stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average price of GBX 10 per share, for a total transaction of £4,183.10. Insiders have bought a total of 185,842 shares of company stock valued at $1,858,420 in the last three months. 4.86% of the stock is owned by company 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.

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