SolGold (LON:SOLG) Stock Price Up 20% – Should You Buy?

SolGold Plc (LON:SOLG) shares shot up 20% during trading on Wednesday . The company traded as high as GBX 25.65 and last traded at GBX 25.20. 26,601,732 shares traded hands during mid-day trading, an increase of 247% from the average session volume of 7,667,941 shares. The stock had previously closed at GBX 21.

Wall Street Analysts Forecast Growth

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

SolGold Trading Up 20.0%

The firm has a market capitalization of £756.70 million, a price-to-earnings ratio of -21.00 and a beta of 1.20. The business’s fifty day moving average is GBX 17.40 and its 200 day moving average is GBX 12.56. The company has a quick ratio of 2.30, a current ratio of 3.75 and a debt-to-equity ratio of 78.66.

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.