SolGold (LON:SOLG) Trading Up 19.2% - Time to Buy?

Key Points

• SolGold's stock price increased by 19.2% during mid-day trading, reaching up to GBX 18.20 ($0.24), with trading volume significantly exceeding the daily average.
• Canaccord Genuity Group maintained a "speculative buy" rating for SolGold, setting a target price of GBX 46, indicating potential for further growth.
• Insiders have actively bought shares, with 185,842 shares valued at $1.86 million purchased over the last 90 days, reflecting confidence in the company's prospects.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price rose 19.2% during mid-day trading on Monday . 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 reiterated a "speculative buy" rating and set a GBX 46 price objective on shares of SolGold in a report on Monday, September 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of GBX 46.

SolGold Price Performance

The stock has a market cap of £544.40 million, a P/E ratio of -1,511.67 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 business's 50-day simple moving average is GBX 15.15 and its two-hundred day simple moving average is GBX 9.99.

Insider Buying and Selling at SolGold

In other SolGold news, insider Paul Smith purchased 9,587 shares of SolGold 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 £958.70. Over the last 90 days, insiders bought 185,842 shares of company stock valued at $1,858,420. Company insiders own 4.86% of the company's stock.

About SolGold

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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