Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Down 6.3% – What’s Next?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) dropped 6.3% during trading on Friday . The company traded as low as $8.60 and last traded at $8.4390. Approximately 31,422 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 130,877 shares. The stock had previously closed at $9.01.

Analyst Ratings Changes

Separately, HC Wainwright boosted their target price on Solaris Resources from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Solaris Resources presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Solaris Resources Stock Down 2.3%

The business has a 50 day moving average price of $7.71 and a 200 day moving average price of $6.29. The stock has a market cap of $1.47 billion, a P/E ratio of -25.16 and a beta of 0.50.

Hedge Funds Weigh In On Solaris Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of Solaris Resources during the third quarter valued at about $38,000. Russell Investments Group Ltd. bought a new position in shares of Solaris Resources during the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. purchased a new stake in Solaris Resources during the second quarter valued at approximately $38,000. Jane Street Group LLC acquired a new stake in Solaris Resources in the second quarter valued at approximately $97,000. Finally, National Bank of Canada FI grew its holdings in Solaris Resources by 133.1% in the third quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock worth $118,000 after purchasing an additional 11,178 shares during the last quarter.

About Solaris Resources

Solaris Resources (NYSEAMERICAN: SLSR) is a Vancouver-based mineral exploration company dedicated to the discovery, acquisition and advancement of large-scale copper and gold deposits across the Americas. Established in 2017, the company focuses on generating high-potential projects in mining-friendly jurisdictions and applying innovative exploration techniques to de-risk assets at an early stage. Solaris leverages a multidisciplinary technical team to identify and systematically evaluate resource targets with district-scale potential.

The company’s flagship asset is the Warintza copper project in southeastern Ecuador, where Solaris has assembled a strategic land position in the emerging Andean copper belt.