Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Up – Still a Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $7.98, but opened at $8.87. Solaris Resources shares last traded at $8.8550, with a volume of 3,549 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright raised their target price on Solaris Resources from $13.50 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.00.

Solaris Resources Price Performance

The stock has a market cap of $1.49 billion, a P/E ratio of -35.64 and a beta of 0.31. The company’s 50 day simple moving average is $9.43 and its 200 day simple moving average is $7.87.

Institutional Trading of Solaris Resources

A number of large investors have recently made changes to their positions in SLSR. Barclays PLC acquired a new stake in Solaris Resources during the 4th quarter worth $36,000. Russell Investments Group Ltd. bought a new position in Solaris Resources during the third quarter worth about $38,000. Farther Finance Advisors LLC acquired a new position in Solaris Resources in the third quarter valued at about $38,000. Raymond James Financial Inc. bought a new stake in shares of Solaris Resources in the second quarter worth about $38,000. Finally, Themes Management Co LLC bought a new stake in shares of Solaris Resources in the fourth quarter worth about $92,000.

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.