SolGold (LON:SOLG) Trading Up 16.3% - What's Next?

Key Points

• SolGold Plc shares surged by 16.3% to GBX 17.71 ($0.24) during mid-day trading, with a significant increase in trading volume of 566% compared to its average session volume.
• Analyst firm Canaccord Genuity Group reiterated a "speculative buy" rating with a target price of GBX 46, contributing to a consensus "Buy" rating for the stock.
• Insiders have shown confidence in the company, purchasing a total of 185,842 shares valued at approximately $1.86 million over the last 90 days.

Shares of SolGold Plc (LON:SOLG - Get Free Report) shot up 16.3% during mid-day trading on Monday . The company traded as high as GBX 17.71 ($0.24) and last traded at GBX 17.71 ($0.24). 47,507,316 shares were traded during mid-day trading, an increase of 566% from the average session volume of 7,129,027 shares. The stock had previously closed at GBX 15.22 ($0.20).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 46 target price on shares of SolGold in a research note on Monday, September 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, SolGold has a consensus rating of "Buy" and an average price target of GBX 46.

SolGold Price Performance

The stock has a fifty day simple moving average of GBX 15.04 and a 200-day simple moving average of GBX 9.91. The company has a market capitalization of £544.40 million, a PE ratio of -1,511.67 and a beta of 1.20. The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66.

Insider Buying and Selling

In related news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of GBX 10 per share, with a total value of £4,183.10. Insiders have purchased 185,842 shares of company stock valued at $1,858,420 in the last 90 days. Corporate insiders own 4.86% 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.

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