SolGold (LON:SOLG) Trading Up 14% - What's Next?

Key Points

• SolGold Plc shares increased by 14% to trade at GBX 12.88 ($0.17), with a significant trading volume spike of 588% compared to the average daily volume.
• The company has a market cap of £483.05 million and reported a negative price-to-earnings ratio of -7.88, indicating challenges in profitability.
• Insider Paul Smith purchased 9,587 shares recently, contributing to a total of 185,842 shares bought by insiders over the last quarter, demonstrating insider confidence in the company's prospects.

SolGold Plc (LON:SOLG - )'s share price was up 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 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 Performance

The stock's 50-day simple moving average is GBX 7.40 and its two-hundred day simple moving average is GBX 7.10. The stock has a market cap of £483.05 million, a price-to-earnings ratio of -7.88 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

Insiders Place Their Bets

In other news, insider Paul Smith acquired 9,587 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,273.00). Insiders have bought a total of 185,842 shares of company stock valued at $1,858,420 over the last quarter. 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.

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.