SolGold (LON:SOLG) Stock Price Up 25.9% - Here's Why

Key Points

• SolGold Plc's stock price surged by 25.9% during trading on Friday, reaching as high as GBX 15.10 ($0.20) after closing at GBX 11.90 ($0.16) the previous day.
• The increase in trading activity saw 43.6 million shares exchanged, marking a significant boost of 598% compared to its average trading volume.
• Insider transactions are notable, with insiders acquiring a total of 185,842 shares worth $1.86 million over the last three months, indicating strong insider confidence in the company.

Shares of SolGold Plc (LON:SOLG - ) traded up 25.9% during trading on Friday . The company traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). 43,666,074 shares were traded during mid-day trading, an increase of 598% from the average session volume of 6,257,646 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Trading Up 25.9%

The stock's 50-day moving average price is GBX 8.46 and its 200 day moving average price is GBX 7.46. 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 firm has a market capitalization of £561.81 million, a PE ratio of -9.17 and a beta of 1.20.

Insiders Place Their Bets

In other news, insider Paul Smith purchased 9,587 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of GBX 10 ($0.14) per share, for a total transaction of £958.70 ($1,297.12). Over the last three months, insiders acquired 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.