SolGold (LON:SOLG) Trading 20% Higher – Here’s Why

SolGold Plc (LON:SOLG)’s share price traded up 20% during mid-day trading on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. 26,601,738 shares changed hands during mid-day trading, an increase of 247% from the average session volume of 7,667,941 shares. The stock had previously closed at GBX 21.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 46 price objective on shares of SolGold in a report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 46.

SolGold Price Performance

The company has a market capitalization of £756.70 million, a price-to-earnings ratio of -21.00 and a beta of 1.20. The company has a 50-day moving average price of GBX 17.40 and a 200-day moving average price of GBX 12.56. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

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.