SolGold (LON:SOLG) Shares Up 20% – Time to Buy?

SolGold Plc (LON:SOLG)’s stock price rose 20% on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,738 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.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated 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, According to MarketBeat.com, SolGold has an average rating of “Buy” and an average target price of GBX 46.

SolGold Stock Performance

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 stock’s 50 day moving average price is GBX 17.78 and its 200 day moving average price is GBX 12.74. The company has a market capitalization of £825.76 million, a P/E ratio of -22.92 and a beta of 1.20.

About SolGold

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.