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

Key Points

• SolGold Plc's stock rose by 14% during mid-day trading, reaching as high as GBX 13.54 after closing at GBX 11.30 previously.
• The company's insider activity revealed that insider Paul Smith purchased nearly 10,000 shares, indicating confidence in the company's future performance.
• SolGold is a prominent exploration company focused on copper-gold deposits in Ecuador, a region noted for its untapped mineral potential.

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 changed hands 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 Trading Up 2.4%

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

Insiders Place Their Bets

In other news, insider Paul Smith acquired 41,831 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,625.47). In the last three months, insiders purchased 185,842 shares of company stock worth $1,858,420. Company insiders own 52.84% of the company's stock.

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.