SolGold (LON:SOLG) Trading Up 14% - Should You Buy?

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 - Get Free Report)'s share price was up 14% during trading on Monday . The stock traded as high as GBX 13.54 ($0.18) and last traded at GBX 12.88 ($0.17). Approximately 38,991,313 shares were traded during 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 2.4%

The firm's 50-day moving average price is GBX 7.87 and its 200 day moving average price is GBX 7.27. The firm has a market cap of £507.05 million, a P/E ratio of -8.27 and a beta of 1.20. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66.

Insider Activity at SolGold

In other news, insider Paul Smith purchased 41,831 shares of the stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average price of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,625.47). 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.

About SolGold

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.