SolGold (LON:SOLG) Shares Up 20% – Here’s Why

SolGold Plc (LON:SOLG) rose 20% 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.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and issued 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, Based on data from MarketBeat, SolGold has an average rating of “Buy” and an average price target of GBX 46.

SolGold Stock Performance

The firm’s 50 day moving average price is GBX 17.57 and its 200-day moving average price is GBX 12.65. 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 firm has a market capitalization of £756.70 million, a PE 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.