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

SolGold Plc (LON:SOLG) shares rose 20% during mid-day trading on Wednesday . The stock traded as high as GBX 25.65 and last traded at GBX 25.20. Approximately 26,601,732 shares were traded 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 reiterated a “speculative buy” rating and set 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, the company presently has a consensus rating of “Buy” and an average target price of GBX 46.

SolGold Stock Up 13.0%

The firm’s fifty day simple moving average is GBX 17.78 and its 200 day simple moving average is GBX 12.74. 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 company has a market cap of £887.32 million, a price-to-earnings ratio of -24.63 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.