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SolGold (LON:SOLG) Shares Up 14% - Time to Buy?

SolGold logo with Basic Materials background

Key Points

  • SolGold's share price surged by 14% on Tuesday, trading as high as GBX 13.54 ($0.18) amidst a significant increase in trading volume, reaching approximately 38 million shares.
  • Insider Paul Smith purchased 41,831 shares at an average price of GBX 10 ($0.13), contributing to a total insider acquisition of 185,842 shares valued at nearly $1.86 million in the past 90 days.
  • SolGold is focused on exploring copper-gold deposits in Ecuador and has a market cap of £493.55 million with a PE ratio of -8.05.
  • Looking to export and analyze SolGold data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price rose 14% during mid-day trading on Tuesday . 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 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 stock has a 50 day moving average price of GBX 8 and a 200-day moving average price of GBX 7.31. The stock has a market capitalization of £507.05 million, a P/E ratio of -8.27 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30.

Insider Activity

In related news, insider Paul Smith acquired 41,831 shares of SolGold stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of GBX 10 ($0.13) per share, with a total value of £4,183.10 ($5,626.23). Insiders bought 185,842 shares of company stock worth $1,858,420 over the last quarter. 52.84% of the stock is currently owned by company insiders.

About SolGold

(Get Free Report)

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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