SolGold (LON:SOLG) Trading 14% Higher - Time to Buy?

Key Points

• SolGold Plc's share price rose by 14%, reaching a high of GBX 13.54 ($0.18), significantly surpassing its previous closing price of GBX 11.30 ($0.15).
• The company has a market capitalization of £484.55 million and 52.84% of shares are owned by company insiders, indicating strong insider confidence.
• In recent months, insiders have purchased 185,842 shares worth approximately $1.86 million, reflecting positive sentiment towards the company's prospects.

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

SolGold Price Performance

The company has a market capitalization of £484.55 million, a PE ratio of -7.91 and a beta of 1.20. 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 company's 50 day simple moving average is GBX 7.40 and its 200 day simple moving average is GBX 7.10.

Insider Buying and Selling at SolGold

In related news, insider Paul Smith purchased 9,587 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,274.19). Insiders acquired 185,842 shares of company stock worth $1,858,420 over the last three months. 52.84% 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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