Solaris Resources (TSE:SLS) Hits New 1-Year High – Time to Buy?

Solaris Resources Inc. (TSE:SLS) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$11.48 and last traded at C$11.24, with a volume of 438571 shares changing hands. The stock had previously closed at C$11.14.

Analysts Set New Price Targets

A number of analysts recently weighed in on SLS shares. Royal Bank Of Canada upped their target price on shares of Solaris Resources from C$12.00 to C$18.00 in a research note on Wednesday, December 10th. National Bankshares boosted their price target on shares of Solaris Resources from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$19.00.

Solaris Resources Stock Up 3.6%

The firm has a 50-day moving average price of C$10.27 and a two-hundred day moving average price of C$8.44. The firm has a market cap of C$1.93 billion, a price-to-earnings ratio of -32.06 and a beta of 1.67. The company has a debt-to-equity ratio of 712.38, a quick ratio of 1.29 and a current ratio of 4.62.

About Solaris Resources

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.