SolGold (LON:SOLG) Trading Up 24.5% - Still a Buy?

Key Points

• SolGold Plc saw its stock price increase by 24.5%, reaching GBX 14.82 ($0.20) during mid-day trading on Friday, with a total trading volume significantly surpassing its average.
• Insider activity indicates confidence in the company, as corporate insiders purchased 185,842 shares worth around $1.86 million in the last 90 days, suggesting strong insider sentiment.
• SolGold specializes in exploring and developing copper-gold deposits in Ecuador, a region considered under-explored yet rich in mineral resources.

SolGold Plc (LON:SOLG - Get Free Report) rose 24.5% during trading on Friday . The company traded as high as GBX 14.86 ($0.20) and last traded at GBX 14.82 ($0.20). Approximately 45,324,770 shares were traded during mid-day trading, an increase of 623% from the average daily volume of 6,268,144 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Price Performance

The business has a 50-day simple moving average of GBX 8.77 and a 200 day simple moving average of GBX 7.57. The stock has a market cap of £539.79 million, a P/E ratio of -8.81 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 Activity at SolGold

In related news, insider Paul Smith purchased 9,587 shares of SolGold stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of GBX 10 per share, for a total transaction of £958.70. In the last 90 days, insiders bought 185,842 shares of company stock valued at $1,858,420. Insiders own 52.84% 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.