SolGold (LON:SOLG) Trading 14% Higher - Time to Buy?

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.

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

SolGold Stock Performance

The stock has a market capitalization of £495.05 million, a price-to-earnings ratio of -8.08 and a beta of 1.20. The company has a 50 day simple moving average of GBX 7.87 and a 200-day simple moving average of GBX 7.27. 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

In related news, insider Paul Smith purchased 41,831 shares of SolGold stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 ($0.13) per share, for a total transaction of £4,183.10 ($5,625.47). In the last 90 days, insiders have acquired 185,842 shares of company stock worth $1,858,420. 52.84% of the stock is owned by 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.