SolGold (LON:SOLG) Trading 20% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

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

SolGold Stock Performance

The business’s 50-day moving average price is GBX 18.04 and its 200-day moving average price is GBX 12.90. The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The stock has a market cap of £887.32 million, a PE ratio of -24.63 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.