SolGold (LON:SOLG) Trading Up 20% – Time to Buy?

SolGold Plc (LON:SOLG) shares rose 20% during trading on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,732 shares were traded during mid-day trading, an increase of 247% from the average daily volume of 7,667,941 shares. The stock had previously closed at GBX 21.

Analyst Ratings Changes

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

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 company has a 50-day moving average price of GBX 17.40 and a 200-day moving average price of GBX 12.56. The firm has a market capitalization of £756.70 million, a P/E ratio of -21.00 and a beta of 1.20.

SolGold Company Profile

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.