Solgold (SOLG)

Sector:

Mining

30.10p
   
  • Change Today:
      0.70p
  • 52 Week High: 40.30
  • 52 Week Low: 21.75
  • Currency: UK Pounds
  • Shares Issued: 2,293.82m
  • Volume: 2,057,738
  • Market Cap: £690.44m
  • RiskGrade: 365

Liberum lowers target price on SolGold

By Iain Gilbert

Date: Tuesday 09 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Liberum lowered their target price on mining outfit SolGold from 55.0p to 39.0p on Tuesday after the group again delayed publication of a pre-feasibility study.
Liberum noted that SolGold has pushed back the publication of a pre-feasibility study to late 2021, electing to do further work to address alternatives and potential upsides.

In the analysts view, the delayed release implied a large capex increase and a longer time to first production, leading it to reduce its price target on the stock by 30% to 39p.

"We had been expecting a bump in the capex at the release of the PFS, of about 10% in capex and opex. However, this delay implies that it was going to be much larger and that it would be better to re-configure the mine plan (particularly mine access) at this relatively late stage."

However, Liberum highlighted that with most of the bad news "likely out of the way" and fresh management coming into the business, it still expects a bid once the Ecuadorian elections have passed, representing 73% upside to the stock's current price.

"Focussing on the positives, it would appear that SolGold are looking to pursue a lower risk, smaller capex development model that would be more achievable for the company to do themselves. Also, the company hopes this additional work on the pre-feasibility study, will reduce the work needed on the definitive feasibility study," concluded Liberum.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Solgold Market Data

Currency UK Pounds
Share Price 30.10p
Change Today 0.70p
% Change 2.38 %
52 Week High 40.30
52 Week Low 21.75
Volume 2,057,738
Shares Issued 2,293.82m
Market Cap £690.44m
RiskGrade 365

Solgold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
98.02% above the market average98.02% above the market average98.02% above the market average98.02% above the market average98.02% above the market average
58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Solgold Dividends

No dividends found

Trades for 20-May-2022

Time Volume / Share Price
16:35 146,236 @ 30.10p
16:29 1,480 @ 30.45p
16:29 118 @ 30.45p
16:29 58 @ 30.45p
16:29 57 @ 30.45p

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