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

SolGold Plc (LON:SOLG) was up 20% during trading on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,738 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.

Wall Street Analysts Forecast Growth

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

SolGold Stock Performance

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 firm has a 50 day moving average price of GBX 17.40 and a 200 day moving average price of GBX 12.56. The stock has a market cap of £756.70 million, a PE ratio of -21.00 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.