SolGold (LON:SOLG) Stock Price Up 25.9% - What's Next?

Key Points

• SolGold Plc shares surged by 25.9% during trading, reaching a high of GBX 15.10 ($0.20) amid increased trading volume of approximately 43.7 million shares.
• Insider Paul Smith purchased 9,587 shares at GBX 10 ($0.14) each, contributing to a total of 185,842 shares bought by insiders in the past 90 days, indicating strong insider confidence.
• SolGold is a prominent exploration company focused on copper-gold deposits in Ecuador, which is part of the under-explored Andean Copper Belt.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price rose 25.9% during trading on Saturday . The stock traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). Approximately 43,666,074 shares changed hands during trading, an increase of 598% from the average daily volume of 6,257,646 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Trading Up 1.0%

The firm's 50-day moving average is GBX 9.21 and its 200 day moving average is GBX 7.71. 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 firm has a market capitalization of £533.53 million, a price-to-earnings ratio of -8.71 and a beta of 1.20.

Insider Buying and Selling

In other news, insider Paul Smith purchased 9,587 shares of the 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. In the last 90 days, insiders have purchased 185,842 shares of company stock worth $1,858,420. 52.84% of the stock is 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.