SolGold (LON:SOLG) Shares Up 14% - What's Next?

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.

Shares of SolGold Plc (LON:SOLG - Get Free Report) shot up 14% during mid-day 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 changed hands during 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 Stock Up 2.4%

The firm has a market cap of £507.05 million, a price-to-earnings ratio of -8.27 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. The firm has a fifty day moving average price of GBX 8 and a 200-day moving average price of GBX 7.31.

Insiders Place Their Bets

In other news, insider Paul Smith bought 41,831 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,626.23). Insiders acquired a total of 185,842 shares of company stock valued at $1,858,420 in the last 90 days. 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.