Solaris Resources (NYSEAMERICAN:SLSR) Hits New 52-Week High – Still a Buy?

by · The Markets Daily

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $8.05 and last traded at $7.99, with a volume of 16172 shares traded. The stock had previously closed at $7.89.

Analyst Ratings Changes

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 analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Solaris Resources has an average rating of “Moderate Buy” and an average price target of $13.50.

View Our Latest Stock Report on SLSR

Solaris Resources Trading Up 1.2%

The firm has a market cap of $1.33 billion, a PE ratio of -22.83 and a beta of 0.46. The company has a 50 day moving average price of $6.68 and a 200 day moving average price of $5.65.

Institutional Investors Weigh In On Solaris Resources

A number of large investors have recently added to or reduced their stakes in the business. PSquared Asset Management AG purchased a new position in Solaris Resources during the first quarter worth $15,297,000. Helikon Investments Ltd boosted its stake in shares of Solaris Resources by 453.8% during the 2nd quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock worth $22,037,000 after purchasing an additional 3,942,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Solaris Resources during the 3rd quarter worth about $15,017,000. NewGen Equity Long Short Fund purchased a new stake in shares of Solaris Resources during the second quarter worth about $6,869,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Solaris Resources in the third quarter valued at approximately $9,012,000.

About Solaris Resources

(Get Free Report)

Solaris Resources Inc engages in exploration of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company’s flagship project is the 100% owned Warintza Copper and Gold Project comprising nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.

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