SolGold (LON:SOLG) Trading Up 13.1% - Should You Buy?

Key Points

• Shares of SolGold Plc jumped by 13.1% during mid-day trading, reaching GBX 11.30 ($0.15), significantly higher than the previous close of GBX 9.99 ($0.13).
• The company has seen a substantial increase in trading volume, with 16,444,152 shares changing hands, which is up 202% from its average volume.
• Insiders of SolGold have been active, acquiring 185,842 shares worth approximately $1.86 million over the last ninety days, indicating confidence in the company's prospects.

Shares of SolGold Plc (LON:SOLG - ) shot 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 changed hands 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 Trading Up 13.1%

The business has a 50 day simple moving average of GBX 7.40 and a 200-day simple moving average of GBX 7.11. 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 P/E ratio of -6.91 and a beta of 1.20.

Insider Transactions at SolGold

In other news, insider Paul Smith bought 9,587 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,272.50). Insiders acquired a total of 185,842 shares of company stock worth $1,858,420 over the last ninety 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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