SolGold (LON:SOLG) Trading Up 19.2% - Still a Buy?

Key Points

• SolGold's stock price surged 19.2% during mid-day trading, reaching GBX 18.14 ($0.24), with a trading volume that increased by 317% compared to its average daily volume.
• Analyst Canaccord Genuity reissued a "speculative buy" rating for SolGold, setting a price target of GBX 46, reflecting a positive outlook from equities research.
• Insiders have shown confidence in the company by purchasing a total of 185,842 shares valued at over $1.85 million in the last quarter.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price was up 19.2% during trading on Tuesday . The stock traded as high as GBX 18.20 ($0.24) and last traded at GBX 18.14 ($0.24). Approximately 29,363,689 shares were traded during trading, an increase of 317% from the average daily volume of 7,037,392 shares. The stock had previously closed at GBX 15.22 ($0.20).

Wall Street Analyst Weigh In

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

SolGold Trading Up 0.1%

The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75. The firm has a market cap of £545.06 million, a PE ratio of -1,513.50 and a beta of 1.20. The stock's 50 day simple moving average is GBX 15.15 and its 200 day simple moving average is GBX 9.99.

Insider Buying and Selling

In related news, insider Paul Smith purchased 41,831 shares of the business's stock in a transaction 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. Over the last three months, insiders have purchased 185,842 shares of company stock valued at $1,858,420. 4.86% of the stock is owned by 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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