Short Interest in Solaris Resources Inc. (NYSEAMERICAN:SLSR) Expands By 20.7%

Solaris Resources Inc. (NYSEAMERICAN:SLSR) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 797,606 shares, a growth of 20.7% from the January 29th total of 660,869 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 165,246 shares, the short-interest ratio is presently 4.8 days. Based on an average daily volume of 165,246 shares, the short-interest ratio is presently 4.8 days. Approximately 0.5% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their target price on Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Solaris Resources presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Solaris Resources Trading Down 9.4%

Shares of SLSR opened at $9.84 on Wednesday. The firm has a fifty day moving average price of $9.28 and a 200-day moving average price of $7.40. The firm has a market capitalization of $1.64 billion, a P/E ratio of -28.11 and a beta of 0.31. Solaris Resources has a 12-month low of $2.50 and a 12-month high of $11.43.

Hedge Funds Weigh In On Solaris Resources

A number of hedge funds have recently added to or reduced their stakes in SLSR. NewGen Equity Long Short Fund bought a new stake in shares of Solaris Resources during the second quarter valued at approximately $6,869,000. Helikon Investments Ltd increased its holdings in Solaris Resources by 41.6% during the 3rd quarter. Helikon Investments Ltd now owns 6,811,620 shares of the company’s stock worth $43,390,000 after purchasing an additional 2,000,000 shares during the period. NewGen Asset Management Ltd raised its position in Solaris Resources by 25.0% during the 2nd quarter. NewGen Asset Management Ltd now owns 1,500,000 shares of the company’s stock valued at $6,869,000 after purchasing an additional 300,000 shares in the last quarter. Themes Management Co LLC bought a new stake in Solaris Resources during the 4th quarter valued at $92,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Solaris Resources by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,438,922 shares of the company’s stock worth $11,468,000 after buying an additional 24,133 shares during the period.

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.