SolGold (LON:SOLG) Stock Passes Above Fifty Day Moving Average – Here’s Why

SolGold Plc (LON:SOLG) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 16.98 and traded as high as GBX 19.66. SolGold shares last traded at GBX 19.50, with a volume of 4,467,565 shares trading hands.

Wall Street Analysts Forecast Growth

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

SolGold Stock Up 2.4%

The company has a debt-to-equity ratio of 78.66, a current ratio of 3.75 and a quick ratio of 2.30. The firm has a market capitalization of £588.54 million, a P/E ratio of -16.33 and a beta of 1.20. The business has a 50 day moving average price of GBX 17.10 and a 200 day moving average price of GBX 12.15.

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.