SolGold (LON:SOLG) Trading 19.2% Higher - Still a Buy?

Key Points

• SolGold's share price increased by 19.2% to GBX 18.14 ($0.24) during mid-day trading, significantly higher than its previous close of GBX 15.22 ($0.20) with a trading volume spike of 317%.
• Wall Street analysts maintain a consensus "Buy" rating for SolGold, with Canaccord Genuity setting a target price of GBX 46.
• Insider transactions indicate confidence in the company, with corporate insiders buying a total of 185,842 shares worth $1,858,420 over the past three months.

SolGold Plc (LON:SOLG - Get Free Report)'s share price shot up 19.2% during mid-day trading on Monday . The stock traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). 29,363,689 shares changed hands during mid-day trading, an increase of 317% from the average session volume of 7,037,392 shares. The stock had previously closed at GBX 15.22 ($0.20).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and issued a GBX 46 target price on shares of SolGold in a report on Monday, September 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of GBX 46.

SolGold Stock Performance

The firm has a market cap of £544.40 million, a PE ratio of -1,511.67 and a beta of 1.20. The firm has a fifty day moving average price of GBX 15.04 and a 200 day moving average price of GBX 9.91. 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 SolGold news, insider Paul Smith acquired 9,587 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was purchased at an average price of GBX 10 per share, for a total transaction of £958.70. Insiders purchased a total of 185,842 shares of company stock worth $1,858,420 in the last three months. 4.86% of the stock is owned by corporate insiders.

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.

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