Solaris Resources (NYSEAMERICAN:SLSR) Sets New 52-Week High on Analyst Upgrade

Solaris Resources Inc. (NYSEAMERICAN:SLSR) shares hit a new 52-week high during mid-day trading on Wednesday after HC Wainwright raised their price target on the stock from $13.50 to $16.00. HC Wainwright currently has a buy rating on the stock. Solaris Resources traded as high as $9.47 and last traded at $9.2550, with a volume of 2930 shares changing hands. The stock had previously closed at $9.01.

Hedge Funds Weigh In On Solaris Resources

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Solaris Resources in the 3rd quarter valued at about $38,000. Farther Finance Advisors LLC acquired a new stake in shares of Solaris Resources in the third quarter valued at approximately $38,000. Raymond James Financial Inc. bought a new stake in shares of Solaris Resources during the second quarter valued at approximately $38,000. Public Employees Retirement System of Ohio acquired a new position in shares of Solaris Resources during the third quarter worth approximately $123,000. Finally, National Bank of Canada FI grew its holdings in Solaris Resources by 133.1% in the 3rd quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock worth $118,000 after buying an additional 11,178 shares in the last quarter.

Solaris Resources Trading Up 2.7%

The firm has a 50-day moving average of $7.82 and a 200 day moving average of $6.39. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -26.44 and a beta of 0.50.

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.