SolGold (LON:SOLG) Trading 15.1% Higher - Still a Buy?

Key Points

• SolGold's shares surged by 15.1% on Wednesday, reaching a last traded price of GBX 16.42 ($0.22) after significant trading volume of approximately 26.9 million shares.
• The company has a debt-to-equity ratio of 78.66, showcasing its financial leverage, while insiders have recently purchased a total of 185,842 shares valued at $1.86 million.
• SolGold specializes in exploration of copper-gold deposits in Ecuador, benefiting from a first mover advantage in a region rich in prospective mining opportunities.

SolGold Plc (LON:SOLG - Get Free Report) shares rose 15.1% during trading on Wednesday . The company traded as high as GBX 16.51 ($0.22) and last traded at GBX 16.42 ($0.22). Approximately 26,891,641 shares changed hands during trading, an increase of 318% from the average daily volume of 6,441,072 shares. The stock had previously closed at GBX 14.26 ($0.19).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 46 price target on shares of SolGold in a research report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, SolGold presently has a consensus rating of "Buy" and a consensus target price of GBX 46.

SolGold Trading Up 4.5%

The stock has a market capitalization of £470.93 million, a P/E ratio of -1,426.55 and a beta of 1.20. The firm's 50 day moving average price is GBX 10.17 and its 200 day moving average price is GBX 8.05. 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 at SolGold

In other news, insider Paul Smith acquired 41,831 shares of the stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of GBX 10 per share, with a total value of £4,183.10. Insiders have bought 185,842 shares of company stock worth $1,858,420 over the last ninety days. Corporate insiders own 4.83% of the company's stock.

SolGold Company Profile

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.