Solaris Resources (NYSEAMERICAN:SLSR) Sets New 1-Year High – Here’s Why

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.50 and last traded at $8.42, with a volume of 31034 shares changing hands. The stock had previously closed at $8.23.

Analyst Ratings Changes

Separately, HC Wainwright raised their price target on shares of Solaris Resources from $13.00 to $13.50 and gave the company 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Solaris Resources Stock Up 1.4%

The company has a market capitalization of $1.39 billion, a PE ratio of -23.84 and a beta of 0.50. The firm’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $6.22.

Institutional Trading of Solaris Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Solaris Resources in the third quarter worth about $9,012,000. Susquehanna International Group LLP purchased a new position in Solaris Resources during the 3rd quarter valued at $180,000. Public Employees Retirement System of Ohio purchased a new position in shares of Solaris Resources during the third quarter valued at $123,000. National Bank of Canada FI lifted its stake in Solaris Resources by 133.1% in the third quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock worth $118,000 after acquiring an additional 11,178 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Solaris Resources during the 3rd quarter valued at about $15,017,000.

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.