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

SolGold Plc (LON:SOLG) shares shot up 20% during mid-day trading on Wednesday . The company traded as high as GBX 25.65 and last traded at GBX 25.20. 26,601,732 shares changed hands during 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 issued a GBX 46 target price on shares of SolGold in a research report on Monday, November 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 46.

SolGold Trading Up 20.0%

The company has a 50 day moving average of GBX 17.40 and a 200 day moving average of GBX 12.56. 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 firm has a market cap of £756.70 million, a price-to-earnings 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.