SolGold (LON:SOLG) Trading Up 15.1% - What's Next?

Key Points

• SolGold Plc shares rose by 15.1% on a recent trading day, with notable trading volume exceeding 26 million shares, marking a 318% increase from the daily average.
• The company's market capitalization stands at £591.06 million with a negative P/E ratio of -9.64, suggesting that it may not yet be profitable.
• Insider transactions indicate confidence in the company, with insiders acquiring 185,842 shares valued at approximately $1.86 million over the last quarter.

SolGold Plc (LON:SOLG - ) was up 15.1% 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 traded hands during mid-day 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).

SolGold Trading Down 4.0%

The firm has a market capitalization of £591.06 million, a P/E ratio of -9.64 and a beta of 1.20. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66. The firm has a 50 day moving average of GBX 9.69 and a 200-day moving average of GBX 7.88.

Insider Activity at SolGold

In other news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average price of GBX 10 per share, with a total value of £4,183.10. Insiders acquired a total of 185,842 shares of company stock valued at $1,858,420 in the last quarter. 52.84% of the stock is currently owned by company insiders.

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.

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