SolGold (LON:SOLG) Shares Up 13.1% – Here’s Why

SolGold Plc (LON:SOLG) shares shot up 13.1% during mid-day trading on Saturday . The stock traded as high as GBX 11.30 ($0.15) and last traded at GBX 11.30 ($0.15). 16,444,152 shares traded hands during mid-day trading, an increase of 202% from the average session volume of 5,439,694 shares. The stock had previously closed at GBX 9.99 ($0.13).

SolGold Price Performance

The company’s 50-day moving average is GBX 7.40 and its 200-day moving average is GBX 7.10. 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 firm has a market capitalization of £423.79 million, a price-to-earnings ratio of -6.91 and a beta of 1.20.

Insider Activity

In related news, insider Paul Smith bought 9,587 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of GBX 10 ($0.13) per share, with a total value of £958.70 ($1,273.00). Insiders have purchased 185,842 shares of company stock valued at $1,858,420 over the last 90 days. 52.84% of the stock is currently owned by company insiders.

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.