Solaris Resources (NYSEAMERICAN:SLSR) Trading Down 6.9% – Here’s What Happened

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

Analysts Set New Price Targets

Separately, HC Wainwright upped their price target on Solaris Resources from $16.00 to $18.00 and gave the company 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, the company has a consensus rating of “Buy” and a consensus price target of $18.00.

Solaris Resources Stock Performance

The company’s fifty day moving average price is $9.92 and its 200 day moving average price is $9.22. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -49.47 and a beta of 1.06.

Hedge Funds Weigh In On Solaris Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of SLSR. NewEdge Advisors LLC bought a new position in shares of Solaris Resources during the first quarter valued at approximately $112,000. Bank of America Corp DE boosted its position in Solaris Resources by 15.6% during the 1st quarter. Bank of America Corp DE now owns 1,276,075 shares of the company’s stock valued at $10,949,000 after purchasing an additional 172,564 shares during the period. Janus Henderson Group PLC boosted its position in Solaris Resources by 38.3% during the 1st quarter. Janus Henderson Group PLC now owns 873,369 shares of the company’s stock valued at $7,485,000 after purchasing an additional 241,749 shares during the period. Amundi boosted its position in Solaris Resources by 34.9% during the 1st quarter. Amundi now owns 1,217,493 shares of the company’s stock valued at $10,446,000 after purchasing an additional 314,693 shares during the period. Finally, Royal Bank of Canada grew its stake in Solaris Resources by 742.1% during the 1st quarter. Royal Bank of Canada now owns 277,695 shares of the company’s stock worth $2,383,000 after buying an additional 244,720 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.