Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Down – What’s Next?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) gapped down before the market opened on Monday. The stock had previously closed at $6.55, but opened at $6.26. Solaris Resources shares last traded at $6.8210, with a volume of 23,180 shares.

Solaris Resources Trading Up 2.9%

The stock has a fifty day simple moving average of $7.42 and a 200-day simple moving average of $8.69. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -37.39 and a beta of 1.49.

Institutional Trading of Solaris Resources

A number of hedge funds have recently bought and sold shares of the stock. Pictet Asset Management Holding SA grew its position in Solaris Resources by 6.3% during the first quarter. Pictet Asset Management Holding SA now owns 21,975 shares of the company’s stock worth $189,000 after buying an additional 1,293 shares in the last quarter. Swiss National Bank grew its holdings in shares of Solaris Resources by 3.2% during the 1st quarter. Swiss National Bank now owns 182,700 shares of the company’s stock worth $1,575,000 after purchasing an additional 5,700 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Solaris Resources during the first quarter valued at approximately $100,000. Themes Management Co LLC increased its position in shares of Solaris Resources by 114.1% during the first quarter. Themes Management Co LLC now owns 24,560 shares of the company’s stock valued at $212,000 after purchasing an additional 13,088 shares during the period. Finally, Cardinal Point Capital Management ULC raised its stake in shares of Solaris Resources by 31.5% in the third quarter. Cardinal Point Capital Management ULC now owns 63,500 shares of the company’s stock valued at $440,000 after purchasing an additional 15,200 shares in the last quarter.

Solaris Resources Company Profile

Solaris Resources Inc is a mineral exploration and development company focused on discovering and advancing copper and gold deposits in the Americas. The company’s activities include geological mapping, drilling, resource evaluation, permitting and community engagement rather than the production or sale of metals.

Solaris’ flagship asset is the Warintza Project in southeastern Ecuador, a copper-molybdenum-gold exploration project that includes several mineralized targets. The company is working to expand its understanding of the Warintza system and evaluate its potential for future development.

The company also maintains exploration interests in Chile, including the Ricardo Project, and has historically held or evaluated additional assets in Latin America.