SolGold (LON:SOLG) Trading Up 16.3% - Here's Why

Key Points

• SolGold Plc shares surged by 16.3% on Monday, reaching GBX 13.14 ($0.17), with trading volume increasing by 491% compared to the average session.
• The company has a market capitalization of £492.46 million and notable financial ratios, including a quick ratio of 2.30 and a debt-to-equity ratio of 78.66.
• Insiders, led by Paul Smith, have been actively buying shares, acquiring a total of 185,842 shares worth around $1.86 million over the last quarter, indicating strong internal confidence in the company.

Shares of SolGold Plc (LON:SOLG - Get Free Report) rose 16.3% during trading on Monday . The company traded as high as GBX 13.14 ($0.18) and last traded at GBX 13.14 ($0.18). Approximately 33,262,875 shares changed hands during mid-day trading, an increase of 491% from the average daily volume of 5,631,258 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Trading Up 2.4%

The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The company has a market capitalization of £507.05 million, a P/E ratio of -8.27 and a beta of 1.20. The business has a 50 day moving average price of GBX 8 and a 200 day moving average price of GBX 7.31.

Insider Activity at SolGold

In related news, insider Paul Smith purchased 9,587 shares of the stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,289.44). Over the last three months, insiders bought 185,842 shares of company stock valued at $1,858,420. Corporate insiders own 52.84% of the company's stock.

About SolGold

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.