SolGold (LON:SOLG) Hits New 52-Week High – Time to Buy?

SolGold Plc (LON:SOLG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 18.78 ($0.25) and last traded at GBX 18.76 ($0.25), with a volume of 98914578 shares changing hands. The stock had previously closed at GBX 18.14 ($0.24).

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a “speculative buy” rating and set a GBX 46 price target on shares of SolGold in a report on Monday, September 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, SolGold presently has an average rating of “Buy” and a consensus price target of GBX 46.

SolGold Stock Performance

The stock’s 50-day simple moving average is GBX 15.27 and its two-hundred day simple moving average is GBX 10.05. The stock has a market cap of £563.01 million, a price-to-earnings ratio of -1,563.33 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a quick ratio of 2.30 and a current ratio of 3.75.

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 stock was acquired at an average price of GBX 10 per share, with a total value of £4,183.10. Insiders have bought a total of 185,842 shares of company stock worth $1,858,420 over the last three months. 4.86% of the stock is currently owned by corporate insiders.

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.