SolGold (LON:SOLG) Trading 20% Higher – What’s Next?

Shares of SolGold Plc (LON:SOLG) rose 20% during mid-day trading on Thursday . The company traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,732 shares traded 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.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 46 price target on shares of SolGold in a research report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 46.

SolGold Price Performance

The company’s 50 day simple moving average is GBX 17.57 and its 200 day simple moving average is GBX 12.65. The company has a current ratio of 3.75, a quick ratio of 2.30 and a debt-to-equity ratio of 78.66. The stock has a market capitalization of £791.23 million, a PE ratio of -21.96 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.