SolGold (LON:SOLG) Stock Price Up 20.8% - Here's What Happened

Key Points

• SolGold's share price surged by 20.8% during mid-day trading, rising from GBX 11.90 ($0.16) to a high of GBX 14.96 ($0.20), with significant trading volume increasing by 789% compared to the average.
• The company has a debt-to-equity ratio of 78.66 and is focusing on developing world-class copper-gold deposits, leveraging its position in Ecuador's Andean Copper Belt.
• Recent insider activity showed substantial investment, with insiders acquiring 185,842 shares in the last 90 days, indicating strong confidence in the company's future.

SolGold Plc (LON:SOLG - Get Free Report) shares were up 20.8% on Friday . The stock traded as high as GBX 14.96 ($0.20) and last traded at GBX 14.38 ($0.19). Approximately 56,351,488 shares were traded during mid-day trading, an increase of 789% from the average daily volume of 6,337,933 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Trading Up 0.4%

The company's fifty day simple moving average is GBX 9.06 and its two-hundred day simple moving average is GBX 7.66. 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 company has a market capitalization of £528.05 million, a price-to-earnings ratio of -8.62 and a beta of 1.20.

Insider Activity

In related news, insider Paul Smith acquired 9,587 shares of the stock in a transaction dated Tuesday, July 29th. The stock was bought at an average price of GBX 10 per share, with a total value of £958.70. Insiders have acquired a total of 185,842 shares of company stock worth $1,858,420 over the last ninety days. 52.84% of the stock is owned by corporate insiders.

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.