SolGold (LON:SOLG) Trading Up 14% - Here's Why

Key Points

• SolGold's shares surged 14% on Monday, reaching GBX 13.54 ($0.18), with a significant trading volume of approximately 38.99 million shares, a 588% increase from the average daily volume.
• Insider Paul Smith purchased 9,587 shares at GBX 10 ($0.13) each, contributing to a total insider acquisition of 185,842 shares worth $1.86 million over the past three months.
• SolGold is strategically positioned in Ecuador, focusing on the exploration and development of copper-gold deposits in the highly prospective Andean Copper Belt.

SolGold Plc (LON:SOLG - ) shares rose 14% on Monday . The company traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). Approximately 38,991,313 shares changed hands during mid-day trading, an increase of 588% from the average daily volume of 5,669,705 shares. The stock had previously closed at GBX 11.30 ($0.15).

SolGold Stock Up 14.0%

The firm has a 50-day moving average price of GBX 7.40 and a two-hundred day moving average price of GBX 7.10. 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 £483.05 million, a price-to-earnings ratio of -7.88 and a beta of 1.20.

Insider Buying and Selling at SolGold

In other SolGold news, insider Paul Smith bought 9,587 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,274.19). Insiders have bought a total of 185,842 shares of company stock worth $1,858,420 in the last three months. 52.84% of the stock is currently owned by corporate 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.

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.