Short Interest in Solaris Resources Inc. (NYSEAMERICAN:SLSR) Expands By 50.5%

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 660,869 shares, a growth of 50.5% from the January 15th total of 439,089 shares. Based on an average daily volume of 252,682 shares, the short-interest ratio is currently 2.6 days. Approximately 0.4% of the shares of the stock are sold short. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 252,682 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

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

Solaris Resources Stock Performance

Solaris Resources stock traded down $0.20 during trading on Friday, reaching $9.70. The company had a trading volume of 84,536 shares, compared to its average volume of 204,737. Solaris Resources has a 12-month low of $2.50 and a 12-month high of $11.43. The stock’s 50 day moving average price is $8.78 and its two-hundred day moving average price is $6.97. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -27.71 and a beta of 0.48.

Institutional Trading of Solaris Resources

A number of hedge funds have recently made changes to their positions in SLSR. Marshall Wace LLP acquired a new stake in Solaris Resources during the 4th quarter valued at approximately $103,000. PSquared Asset Management AG grew its position in shares of Solaris Resources by 1.0% during the fourth quarter. PSquared Asset Management AG now owns 3,963,015 shares of the company’s stock worth $31,761,000 after buying an additional 38,957 shares in the last quarter. Heron Bay Capital Management acquired a new stake in shares of Solaris Resources during the fourth quarter worth approximately $140,000. Bank of Montreal Can increased its stake in shares of Solaris Resources by 0.8% in the fourth quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock worth $2,674,000 after buying an additional 2,668 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its holdings in Solaris Resources by 3.8% in the fourth quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock valued at $16,395,000 after acquiring an additional 74,152 shares in the last quarter.

Solaris Resources Company Profile

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.