SolGold (LON:SOLG) Shares Up 20% – Still a Buy?

SolGold Plc (LON:SOLG)’s stock price 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 traded hands 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.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 46 target price on shares of SolGold in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of GBX 46.

SolGold Stock Performance

The firm has a 50-day moving average of GBX 18.04 and a 200-day moving average of GBX 12.90. The stock has a market capitalization of £887.32 million, a price-to-earnings ratio of -24.63 and a beta of 1.20. The company has a current ratio of 3.75, a quick ratio of 2.30 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.