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

SolGold Plc (LON:SOLG) was up 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 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 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, According to MarketBeat.com, SolGold has an average rating of “Buy” and an average target price of GBX 46.

SolGold Stock Performance

The firm has a fifty day moving average of GBX 17.57 and a 200-day moving average of GBX 12.65. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66. The stock has a market capitalization of £790.63 million, a price-to-earnings ratio of -21.94 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.