SolGold (LON:SOLG) Trading 13.1% Higher After Insider Buying Activity

Key Points

• Shares of SolGold Plc rose by 13.1% during mid-day trading due to notable insider buying activity, with a significant volume increase to approximately 16.4 million shares traded.
• Insider Paul Smith made multiple purchases totaling 49,250 shares, with an average buying price of GBX 10 ($0.13) per share.
• As of the latest data, SolGold has a market capitalization of £423.79 million and maintains a high debt-to-equity ratio of 78.66.

Shares of SolGold Plc (LON:SOLG - Get Free Report) rose 13.1% during trading on Friday after an insider bought additional shares in the company. The company 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).

Specifically, insider Paul Smith acquired 9,587 shares of SolGold stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,272.50). Also, insider Paul Smith bought 8,479 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of GBX 10 ($0.13) per share, with a total value of £847.90 ($1,125.43). In related news, insider Paul Smith bought 31,184 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, with a total value of £3,118.40 ($4,139.10).

SolGold Trading Up 13.1%

The firm has a market capitalization of £423.79 million, a PE ratio of -6.91 and a beta of 1.20. 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 business has a fifty day moving average price of GBX 7.40 and a two-hundred day moving average price of GBX 7.11.

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.