Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Up – Still a Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $7.98, but opened at $8.87. Solaris Resources shares last traded at $8.8550, with a volume of 3,549 shares traded.

Wall Street Analyst Weigh In

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

Solaris Resources Trading Down 0.6%

The firm has a market cap of $1.47 billion, a PE ratio of -35.12 and a beta of 1.03. The firm has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $7.88.

Institutional Trading of Solaris Resources

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in Solaris Resources by 5.4% in the 2nd quarter. Tidal Investments LLC now owns 50,200 shares of the company’s stock worth $230,000 after purchasing an additional 2,586 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Solaris Resources by 0.8% during the 4th quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock valued at $2,674,000 after purchasing an additional 2,668 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Solaris Resources by 50.0% during the fourth quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock valued at $72,000 after buying an additional 3,000 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Solaris Resources by 21.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 23,313 shares of the company’s stock valued at $187,000 after buying an additional 4,119 shares during the period. Finally, Barclays PLC bought a new position in Solaris Resources in the fourth quarter worth about $36,000.

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.