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

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

Wall Street Analysts Forecast Growth

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

SolGold Price Performance

The company has a market capitalization of £790.63 million, a PE ratio of -21.94 and a beta of 1.20. The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The company’s 50 day simple moving average is GBX 17.57 and its 200 day simple moving average is GBX 12.65.

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.