PSquared Asset Management AG Purchases 121,300 Shares of Solaris Resources Inc. $SLSR

PSquared Asset Management AG raised its position in Solaris Resources Inc. (NYSEAMERICAN:SLSR) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,084,315 shares of the company’s stock after acquiring an additional 121,300 shares during the quarter. Solaris Resources makes up about 12.3% of PSquared Asset Management AG’s holdings, making the stock its 3rd biggest holding. PSquared Asset Management AG’s holdings in Solaris Resources were worth $35,262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Solaris Resources by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock valued at $3,422,000 after purchasing an additional 14,824 shares during the last quarter. Amundi lifted its position in shares of Solaris Resources by 9.8% during the 2nd quarter. Amundi now owns 930,900 shares of the company’s stock worth $4,375,000 after purchasing an additional 82,770 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Solaris Resources during the second quarter worth $38,000. Jane Street Group LLC purchased a new position in Solaris Resources in the second quarter valued at $97,000. Finally, Bank of America Corp DE increased its holdings in Solaris Resources by 350.2% in the second quarter. Bank of America Corp DE now owns 259,145 shares of the company’s stock valued at $1,187,000 after buying an additional 201,582 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their price target on Solaris Resources from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

Solaris Resources Stock Performance

SLSR opened at $7.66 on Friday. Solaris Resources Inc. has a one year low of $4.51 and a one year high of $11.48. The stock has a market capitalization of $1.28 billion, a P/E ratio of -42.56 and a beta of 1.23. The business’s 50-day simple moving average is $8.82 and its 200-day simple moving average is $9.25.

Solaris Resources 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.