SolGold (LON:SOLG) Shares Up 15.1% - Here's What Happened

Key Points

• SolGold's share price rose **15.1%** to GBX **16.42** ($0.22), significantly increasing trading volume by **318%** compared to the average.
• Insider Paul Smith purchased **41,831 shares** at an average price of GBX **10**, contributing to a total of **185,842 shares** bought by insiders within the last ninety days.
• SolGold, focused on copper-gold exploration in **Ecuador**, boasts a market capitalization of **£596.31 million** and has a **debt-to-equity ratio** of **78.66**.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price traded up 15.1% during mid-day trading on Tuesday . The company traded as high as GBX 16.51 ($0.22) and last traded at GBX 16.42 ($0.22). 26,891,641 shares changed hands during trading, an increase of 318% from the average session volume of 6,441,072 shares. The stock had previously closed at GBX 14.26 ($0.19).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 46 target price on shares of SolGold in a research report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, SolGold currently has an average rating of "Buy" and a consensus price target of GBX 46.

SolGold Stock Up 4.5%

The firm's 50-day moving average price is GBX 10.35 and its 200 day moving average price is GBX 8.11. The company has a market capitalization of £470.93 million, a price-to-earnings ratio of -1,426.55 and a beta of 1.20. The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66.

Insider Activity at SolGold

In other news, insider Paul Smith bought 41,831 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of GBX 10 per share, for a total transaction of £4,183.10. In the last ninety days, insiders have purchased 185,842 shares of company stock valued at $1,858,420. 4.83% of the stock is currently owned by 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.