Solaris Resources Inc. (NYSEAMERICAN:SLSR) Sees Large Drop in Short Interest

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totaling 430,138 shares, a drop of 21.3% from the December 15th total of 546,809 shares. Based on an average daily volume of 128,710 shares, the days-to-cover ratio is currently 3.3 days. Approximately 0.3% of the shares of the stock are sold short. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 128,710 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of Solaris Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its position in Solaris Resources by 5.4% during the second quarter. Tidal Investments LLC now owns 50,200 shares of the company’s stock valued at $230,000 after purchasing an additional 2,586 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Solaris Resources during the 3rd quarter valued at about $38,000. Farther Finance Advisors LLC acquired a new position in shares of Solaris Resources in the 3rd quarter valued at about $38,000. Raymond James Financial Inc. acquired a new position in shares of Solaris Resources in the 2nd quarter valued at about $38,000. Finally, Picton Mahoney Asset Management boosted its stake in shares of Solaris Resources by 0.5% in the third quarter. Picton Mahoney Asset Management now owns 1,968,687 shares of the company’s stock worth $12,558,000 after buying an additional 10,550 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Solaris Resources Stock Performance

NYSEAMERICAN SLSR traded down $0.20 during trading hours on Friday, reaching $8.81. The stock had a trading volume of 164,264 shares, compared to its average volume of 128,145. Solaris Resources has a 52-week low of $2.50 and a 52-week high of $9.42. The stock has a fifty day moving average of $7.75 and a 200 day moving average of $6.33. The stock has a market cap of $1.47 billion, a P/E ratio of -25.17 and a beta of 0.50.

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.