SolGold (LON:SOLG) Trading 10.7% Higher - Time to Buy?

Key Points

• SolGold Plc shares jumped 10.7% during mid-day trading, reaching a high of GBX 9.80 ($0.13) after closing at GBX 8.75 ($0.12).
• The stock trading volume surged to approximately 20.98 million shares, representing a 313% increase from its average daily volume.
• SolGold focuses on copper-gold exploration in Ecuador, an area noted for its potential with multiple Tier 1 projects and significant global copper resources.

SolGold Plc (LON:SOLG - Get Free Report)'s share price traded up 10.7% during mid-day trading on Tuesday . The stock traded as high as GBX 9.80 ($0.13) and last traded at GBX 9.69 ($0.13). 20,980,186 shares were traded during trading, an increase of 313% from the average session volume of 5,084,994 shares. The stock had previously closed at GBX 8.75 ($0.12).

SolGold Price Performance

The company has a 50-day moving average of GBX 7.32 and a 200-day moving average of GBX 7.08. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75. The stock has a market capitalization of £423.79 million, a price-to-earnings ratio of -6.91 and a beta of 1.20.

Insider Activity at SolGold

In other news, insider Paul Smith acquired 9,587 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, for a total transaction of £958.70 ($1,266.45). In the last three months, insiders acquired 185,842 shares of company stock worth $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.