Solaris Resources Inc. (NYSEAMERICAN:SLSR) Short Interest Update

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 430,138 shares, a drop of 21.3% from the December 15th total of 546,809 shares. Based on an average daily volume of 128,710 shares, the days-to-cover ratio is presently 3.3 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 128,710 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Investors Weigh In On Solaris Resources

Several hedge funds have recently bought and sold shares of SLSR. Goldman Sachs Group Inc. grew its stake in Solaris Resources by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock worth $3,422,000 after buying an additional 14,824 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Solaris Resources during the 2nd quarter worth $519,000. Helikon Investments Ltd lifted its holdings 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 acquiring an additional 3,942,810 shares during the last quarter. NewGen Equity Long Short Fund purchased a new position in Solaris Resources in the second quarter worth $6,869,000. Finally, Mackenzie Financial Corp increased its stake in Solaris Resources by 7.4% in the second quarter. Mackenzie Financial Corp now owns 692,357 shares of the company’s stock valued at $3,175,000 after acquiring an additional 47,831 shares during the last quarter.

Solaris Resources Price Performance

Shares of NYSEAMERICAN:SLSR traded down $0.20 on Monday, hitting $8.81. The company’s stock had a trading volume of 164,264 shares, compared to its average volume of 128,145. The company has a market capitalization of $1.47 billion, a PE ratio of -25.17 and a beta of 0.50. The company has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $6.34. Solaris Resources has a 1 year low of $2.50 and a 1 year high of $9.42.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright upped their price target on Solaris Resources from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Buy rating and one has assigned 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.

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.