SolGold (LON:SOLG) Trading Up 13.1% - Here's What Happened

Key Points

• SolGold Plc shares saw a significant increase of 13.1%, reaching GBX 11.30 ($0.15) during mid-day trading, with a trading volume that was up 202% from the average session.
• Insider transactions reveal confidence in the company, with Paul Smith purchasing 41,831 shares at GBX 10 ($0.13) each, contributing to a total of 185,842 shares bought by insiders in the past 90 days.
• SolGold is focused on the exploration and development of copper-gold deposits in Ecuador, a region recognized for its potential in Tier 1 mining projects.

SolGold Plc (LON:SOLG - ) shares traded up 13.1% during mid-day trading on Saturday . The company traded as high as GBX 11.30 ($0.15) and last traded at GBX 11.30 ($0.15). 16,444,152 shares were traded during mid-day trading, an increase of 202% from the average session volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

SolGold Price Performance

The firm's 50-day moving average is GBX 7.40 and its 200-day moving average is GBX 7.11. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The company has a market capitalization of £423.79 million, a P/E ratio of -6.91 and a beta of 1.20.

Insiders Place Their Bets

In related news, insider Paul Smith bought 41,831 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,552.30). Insiders have purchased 185,842 shares of company stock valued at $1,858,420 in the last 90 days. 52.84% of the stock is currently 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.

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