Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 12-Month High – Time to Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) reached a new 52-week high during trading on Tuesday . The company traded as high as $10.28 and last traded at $9.70, with a volume of 403549 shares changing hands. The stock had previously closed at $9.79.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on Solaris Resources from $13.50 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Solaris Resources presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Solaris Resources Stock Performance

The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -27.71 and a beta of 0.50. The firm’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $6.50.

Institutional Trading of Solaris Resources

Institutional investors have recently made changes to their positions in the company. NewGen Equity Long Short Fund purchased a new stake in shares of Solaris Resources in the second quarter worth about $6,869,000. TD Asset Management Inc bought a new position in shares of Solaris Resources during the second quarter worth about $519,000. Helikon Investments Ltd grew its position in shares of Solaris Resources by 453.8% in the 2nd quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock worth $22,037,000 after acquiring an additional 3,942,810 shares in the last quarter. NewGen Asset Management Ltd increased its stake in Solaris Resources by 25.0% during the second quarter. NewGen Asset Management Ltd now owns 1,500,000 shares of the company’s stock valued at $6,869,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Man Group plc acquired a new stake in Solaris Resources during the third quarter worth about $657,000.

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.