Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Down 6.9% – What’s Next?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) dropped 6.9% during trading on Thursday . The stock traded as low as $8.90 and last traded at $8.87. 43,003 shares were traded during trading, a decline of 71% from the average daily volume of 148,051 shares. The stock had previously closed at $9.53.

Wall Street Analysts Forecast Growth

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

Solaris Resources Stock Performance

The stock has a market cap of $1.50 billion, a PE ratio of -49.72 and a beta of 1.06. The firm has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $9.22.

Institutional Investors Weigh In On Solaris Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Helikon Investments Ltd grew its stake in Solaris Resources by 41.6% in the 3rd quarter. Helikon Investments Ltd now owns 6,811,620 shares of the company’s stock worth $43,390,000 after buying an additional 2,000,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Solaris Resources during the 3rd quarter valued at $9,012,000. Anson Funds Management LP purchased a new position in Solaris Resources in the third quarter worth $956,000. UBS Group AG grew its position in Solaris Resources by 37.7% in the fourth quarter. UBS Group AG now owns 625,086 shares of the company’s stock worth $4,982,000 after acquiring an additional 171,004 shares in the last quarter. Finally, Spark Investment Management LLC bought a new position in Solaris Resources in the third quarter valued at $172,000.

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.