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

Key Points

• SolGold's stock rose by 13.1% during mid-day trading, reaching GBX 11.30 ($0.15), with a trading volume increase of 202% compared to its average daily volume.
• The company has a strong financial position, with a current ratio of 3.75 and a debt-to-equity ratio of 78.66.
• Insiders have recently purchased a total of 185,842 shares, indicating confidence in the company's future, as insiders now own 52.84% of SolGold's stock.

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

SolGold Price Performance

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 firm has a market cap of £423.79 million, a price-to-earnings ratio of -6.91 and a beta of 1.20. The company's fifty day moving average is GBX 7.40 and its two-hundred day moving average is GBX 7.11.

Insider Buying and Selling

In other news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,552.30). In the last quarter, insiders have acquired 185,842 shares of company stock valued at $1,858,420. Insiders own 52.84% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.