Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Up 5.6% – Here’s Why

Solaris Resources Inc. (NYSEAMERICAN:SLSR) shares rose 5.6% during mid-day trading on Friday . The stock traded as high as $9.52 and last traded at $9.38. Approximately 114,715 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 130,288 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price target on Solaris Resources from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.00.

Solaris Resources Trading Up 5.6%

The firm has a 50 day moving average of $9.86 and a 200-day moving average of $9.16. The company has a market cap of $1.57 billion, a P/E ratio of -52.11 and a beta of 1.06.

Institutional Trading of Solaris Resources

A number of large investors have recently added to or reduced their stakes in the company. Helikon Investments Ltd increased its stake in Solaris Resources by 32.5% in the 4th quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock worth $71,906,000 after acquiring an additional 2,210,452 shares during the last quarter. PSquared Asset Management AG increased its stake in Solaris Resources by 3.1% in the 1st quarter. PSquared Asset Management AG now owns 4,084,315 shares of the company’s stock worth $35,262,000 after acquiring an additional 121,300 shares during the last quarter. Principal Financial Group Inc. increased its stake in Solaris Resources by 291.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,000,000 shares of the company’s stock worth $25,818,000 after acquiring an additional 2,234,530 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Solaris Resources in the 3rd quarter worth approximately $15,017,000. Finally, Picton Mahoney Asset Management increased its stake in Solaris Resources by 3.8% in the 4th quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock worth $16,395,000 after acquiring an additional 74,152 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.