SolGold (LON:SOLG) Trading 25.9% Higher - What's Next?

Key Points

• SolGold Plc's shares surged by 25.9% on Saturday, closing at GBX 14.98 ($0.20), with trading volume increasing by 598% compared to the average.
• The company's current market capitalization stands at £561.81 million and it has significant insider ownership, with 52.84% of the stock held by insiders.
• SolGold is focused on the exploration and development of copper-gold deposits in Ecuador, a region recognized for its high potential in mineral resources.

Shares of SolGold Plc (LON:SOLG - Get Free Report) rose 25.9% during trading on Saturday . The company traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). Approximately 43,666,074 shares were traded during trading, an increase of 598% from the average daily volume of 6,257,646 shares. The stock had previously closed at GBX 11.90 ($0.16).

SolGold Price Performance

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's fifty day moving average is GBX 9.06 and its 200 day moving average is GBX 7.66. The company has a market capitalization of £531.47 million, a P/E ratio of -8.67 and a beta of 1.20.

Insider Activity

In related news, insider Paul Smith acquired 9,587 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of GBX 10 per share, for a total transaction of £958.70. Over the last 90 days, insiders have purchased 185,842 shares of company stock worth $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.