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SolGold (LON:SOLG) Trading Up 25.9% - Here's What Happened

SolGold logo with Basic Materials background

Key Points

  • SolGold Plc shares surged by 25.9% on Saturday, reaching a trading price of GBX 14.98, significantly up from a previous close of GBX 11.90.
  • Insider Paul Smith purchased 9,587 shares at GBX 10 per share, contributing to a total of 185,842 shares bought by insiders worth approximately $1.86 million in the last quarter.
  • SolGold is focused on discovering and developing copper-gold deposits in Ecuador, a region known for its under-explored potential within the Andean Copper Belt.
  • Want stock alerts on SolGold? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

SolGold Plc (LON:SOLG - Get Free Report)'s stock price traded up 25.9% during mid-day trading on Saturday . The company traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). 43,666,074 shares changed hands during trading, an increase of 598% from the average session volume of 6,257,646 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Stock Performance

The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The company has a fifty day moving average price of GBX 8.62 and a two-hundred day moving average price of GBX 7.52. The firm has a market cap of £561.81 million, a price-to-earnings ratio of -9.17 and a beta of 1.20.

Insiders Place Their Bets

In other news, insider Paul Smith purchased 41,831 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of GBX 10 ($0.14) per share, for a total transaction of £4,183.10 ($5,669.69). Over the last quarter, insiders bought 185,842 shares of company stock valued at $1,858,420. Corporate insiders own 52.84% of the company's stock.

SolGold Company Profile

(Get Free Report)

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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