L1 Capital Pty Ltd Sells 1,700,239 Shares of Solaris Resources Inc. $SLSR

L1 Capital Pty Ltd decreased its holdings in Solaris Resources Inc. (NYSEAMERICAN:SLSR) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,229,384 shares of the company’s stock after selling 1,700,239 shares during the period. Solaris Resources accounts for about 1.4% of L1 Capital Pty Ltd’s portfolio, making the stock its 13th biggest holding. L1 Capital Pty Ltd owned approximately 1.93% of Solaris Resources worth $25,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Solaris Resources during the third quarter valued at approximately $38,000. Raymond James Financial Inc. bought a new position in Solaris Resources during the second quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its stake in Solaris Resources by 50.0% during the fourth quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock valued at $72,000 after buying an additional 3,000 shares during the last quarter. Themes Management Co LLC bought a new position in Solaris Resources during the fourth quarter valued at approximately $92,000. Finally, CIBC Asset Management Inc bought a new position in Solaris Resources during the fourth quarter valued at approximately $94,000.

Solaris Resources Price Performance

Shares of SLSR stock opened at $9.38 on Friday. Solaris Resources Inc. has a 1 year low of $4.29 and a 1 year high of $11.48. The stock’s 50 day simple moving average is $9.86 and its two-hundred day simple moving average is $9.16. The company has a market cap of $1.57 billion, a PE ratio of -52.11 and a beta of 1.06.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on Solaris Resources from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.00.

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.