SolGold (LON:SOLG) Shares Up 14% – Time to Buy?

SolGold Plc (LON:SOLG) rose 14% during mid-day trading on Wednesday . The stock traded as high as GBX 24.15 and last traded at GBX 23.95. Approximately 26,795,145 shares were traded during mid-day trading, an increase of 249% from the average daily volume of 7,668,782 shares. The stock had previously closed at GBX 21.

Wall Street Analyst Weigh In

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

SolGold Trading Up 16.2%

The firm’s 50-day simple moving average is GBX 17.40 and its 200-day simple moving average is GBX 12.56. The firm has a market capitalization of £732.68 million, a P/E ratio of -20.33 and a beta of 1.20. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66.

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.