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

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $8.17 and last traded at $8.17, with a volume of 43484 shares. The stock had previously closed at $7.99.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price target on shares of Solaris Resources from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Solaris Resources Stock Up 0.7%

The stock has a market cap of $1.36 billion, a PE ratio of -23.29 and a beta of 0.46. The firm has a fifty day moving average of $6.99 and a 200 day moving average of $5.87.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLSR. Helikon Investments Ltd grew its holdings in shares of Solaris Resources by 41.6% during the third quarter. Helikon Investments Ltd now owns 6,811,620 shares of the company’s stock worth $43,390,000 after purchasing an additional 2,000,000 shares during the last quarter. L1 Capital Pty Ltd increased its position in Solaris Resources by 0.9% during the first quarter. L1 Capital Pty Ltd now owns 4,929,623 shares of the company’s stock worth $16,582,000 after buying an additional 41,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Solaris Resources in the third quarter valued at approximately $15,017,000. Picton Mahoney Asset Management boosted its holdings in shares of Solaris Resources by 0.5% in the third quarter. Picton Mahoney Asset Management now owns 1,968,687 shares of the company’s stock valued at $12,558,000 after acquiring an additional 10,550 shares during the period. Finally, NewGen Equity Long Short Fund grew its position in shares of Solaris Resources by 9.9% during the third quarter. NewGen Equity Long Short Fund now owns 1,648,200 shares of the company’s stock worth $10,911,000 after acquiring an additional 148,200 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.