SolGold (LON:SOLG) Trading 21.7% Higher - Should You Buy?

Key Points

• Shares of SolGold Plc rose 21.7% in a single trading day, reaching a last price of GBX 14.48 ($0.20) with a trading volume of approximately 48 million shares.
• The company has a market capitalization of £547.93 million and significant insider ownership, with insiders purchasing a total of 185,842 shares valued at $1.86 million over the last three months.
• SolGold focuses on the exploration and development of copper-gold deposits in Ecuador, a region known for its potential resources in the Andean Copper Belt.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price shot up 21.7% during mid-day trading on Friday . The stock traded as high as GBX 14.96 ($0.20) and last traded at GBX 14.48 ($0.20). 48,273,301 shares traded hands during mid-day trading, an increase of 668% from the average session volume of 6,286,805 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Trading Down 4.3%

The company has a 50-day moving average price of GBX 8.77 and a 200-day moving average price of GBX 7.57. The company has a market capitalization of £537.80 million, a price-to-earnings ratio of -8.78 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 Buying and Selling at SolGold

In other news, insider Paul Smith acquired 9,587 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of GBX 10 ($0.14) per share, with a total value of £958.70 ($1,295.02). Over the last quarter, insiders purchased 185,842 shares of company stock worth $1,858,420. 52.84% of the stock is currently 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.