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

SolGold logo with Basic Materials background

Key Points

  • Shares of SolGold Plc surged 25.9% to last trade at GBX 14.98 ($0.20) with a trading volume of approximately 43.7 million shares, a dramatic increase from its average daily volume.
  • The company has a market capitalization of £561.81 million, a debt-to-equity ratio of 78.66, and recently insiders have purchased a significant number of shares, indicating confidence in the company's prospects.
  • SolGold focuses on the discovery and development of world-class copper-gold deposits in Ecuador, part of the Andean Copper Belt, which is known for its rich mineral resources.
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SolGold Plc (LON:SOLG - Get Free Report) shot up 25.9% during trading on Saturday . The stock traded as high as GBX 15.10 ($0.20) and last traded at GBX 14.98 ($0.20). 43,666,074 shares traded 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 quick ratio of 2.30 and a current ratio of 3.75. The stock has a market cap of £533.98 million, a P/E ratio of -8.71 and a beta of 1.20. The firm's 50 day moving average is GBX 8.62 and its 200 day moving average is GBX 7.52.

Insider Activity at SolGold

In related news, insider Paul Smith acquired 41,831 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of GBX 10 ($0.14) per share, for a total transaction of £4,183.10 ($5,672.77). In the last three months, insiders have purchased 185,842 shares of company stock worth $1,858,420. 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.

Further Reading

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