Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 12-Month High – Here’s What Happened

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $10.28 and last traded at $9.70, with a volume of 403549 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright upped their target price on shares of Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Solaris Resources currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Solaris Resources Price Performance

The business has a 50-day simple moving average of $8.18 and a 200 day simple moving average of $6.57. The firm has a market cap of $1.80 billion, a PE ratio of -30.83 and a beta of 0.50.

Hedge Funds Weigh In On Solaris Resources

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Solaris Resources in the third quarter worth approximately $38,000. Farther Finance Advisors LLC purchased a new position in shares of Solaris Resources during the 3rd quarter valued at $38,000. Raymond James Financial Inc. purchased a new position in shares of Solaris Resources during the 2nd quarter valued at $38,000. Public Employees Retirement System of Ohio bought a new position in Solaris Resources in the 3rd quarter worth $123,000. Finally, National Bank of Canada FI increased its stake in Solaris Resources by 133.1% in the 3rd quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock worth $118,000 after buying an additional 11,178 shares in 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.