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SolGold (LON:SOLG) Trading 14% Higher - Here's Why

SolGold logo with Basic Materials background

Key Points

  • SolGold Plc's stock price surged by 14% during trading on Monday, reaching a high of GBX 13.54 ($0.18) with an impressive trading volume that increased by 588% from the average daily volume.
  • The company, valued at £483.05 million, has a negative PE ratio of -7.88 and has seen significant insider trading, with insiders owning over 52% of the stock.
  • SolGold focuses on copper-gold exploration in Ecuador, which is noted for its potential, having many Tier 1 copper and gold projects.
  • MarketBeat previews top five stocks to own in September.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price was up 14% during trading on Monday . The stock traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). Approximately 38,991,313 shares changed hands during mid-day trading, an increase of 588% from the average daily volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Stock Performance

The company has a market capitalization of £483.05 million, a PE ratio of -7.88 and a beta of 1.20. The business's 50-day moving average is GBX 7.40 and its 200-day moving average is GBX 7.10. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

Insider Transactions at SolGold

In other news, insider Paul Smith bought 41,831 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,559.68). Insiders have bought 185,842 shares of company stock valued at $1,858,420 over the last three months. 52.84% of the stock is currently owned by insiders.

About SolGold

(Get Free Report)

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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