SolGold (LON:SOLG) Trading 20% Higher – Time to Buy?

SolGold Plc (LON:SOLG) shares were up 20% during trading on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,732 shares changed hands during mid-day 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 Analysts Forecast Growth

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

SolGold Price Performance

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 stock has a market capitalization of £887.32 million, a price-to-earnings ratio of -24.63 and a beta of 1.20. The stock’s 50 day simple moving average is GBX 18.04 and its 200-day simple moving average is GBX 12.90.

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.