Solaris Resources (TSE:SLS) Hits New 52-Week High – What’s Next?

Solaris Resources Inc. (TSE:SLS)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$14.71 and last traded at C$14.56, with a volume of 672496 shares trading hands. The stock had previously closed at C$13.98.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLS. Royal Bank Of Canada boosted their price objective on shares of Solaris Resources from C$12.00 to C$18.00 in a report on Wednesday, December 10th. National Bankshares increased their price objective on shares of Solaris Resources from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$19.00.

Solaris Resources Stock Performance

The firm has a market capitalization of C$2.43 billion, a price-to-earnings ratio of -40.44 and a beta of 1.67. The company has a debt-to-equity ratio of 712.38, a current ratio of 4.62 and a quick ratio of 1.29. The firm has a 50 day moving average price of C$11.29 and a 200-day moving average price of C$9.10.

Solaris Resources Company Profile

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.