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

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 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 Analyst Weigh In

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 46 price target on shares of SolGold in a research note on Thursday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, SolGold presently has a consensus rating of “Buy” and a consensus target price of GBX 46.

SolGold Price 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 company’s fifty 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 £887.32 million, a P/E 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.