SolGold (LON:SOLG) Trading 19.2% Higher - Time to Buy?

Key Points

• SolGold Plc's shares surged **19.2%** during trading, reaching a high of **GBX 18.20 ($0.24)**, with trading volume increasing by **317%** compared to the average session.
• Analysts from Canaccord Genuity reaffirmed a **"speculative buy"** rating and set a target price of **GBX 46**, while SolGold maintains an average rating of **"Buy."**
• Insider transactions showed significant confidence, with insiders purchasing **185,842 shares** valued at **$1,858,420** over the last three months.

Shares of SolGold Plc (LON:SOLG - Get Free Report) traded up 19.2% during trading on Monday . The company traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). 29,363,689 shares traded hands during 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).

Analyst Ratings Changes

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

SolGold Trading Up 19.2%

The firm has a market capitalization of £544.40 million, a P/E ratio of -1,511.67 and a beta of 1.20. The stock's 50-day simple moving average is GBX 15.04 and its two-hundred day simple moving average is GBX 9.91. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30.

Insider Buying and Selling at SolGold

In other news, insider Paul Smith purchased 41,831 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 per share, for a total transaction of £4,183.10. Insiders have purchased 185,842 shares of company stock valued at $1,858,420 in the last three months. Corporate insiders own 4.86% of the company's stock.

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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