SolGold (LON:SOLG) Shares 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 - Get Free Report)'s stock price traded up 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). 26,891,641 shares changed hands during trading, an increase of 318% from the average session volume of 6,441,072 shares. The stock had previously closed at GBX 14.26 ($0.19).

Analyst Ratings Changes

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

SolGold Trading Up 4.5%

The company has a market cap of £470.93 million, a P/E ratio of -1,426.55 and a beta of 1.20. The stock's 50-day moving average is GBX 10.17 and its two-hundred day moving average 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.

Insiders Place Their Bets

In other SolGold news, insider Paul Smith purchased 41,831 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average cost of GBX 10 per share, for a total transaction of £4,183.10. Insiders have purchased 185,842 shares of company stock valued at $1,858,420 in the last 90 days. 4.83% 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.