Solaris Resources (NYSEAMERICAN:SLSR) Hits New 52-Week High – Still a Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $8.39 and last traded at $8.3850, with a volume of 100119 shares. The stock had previously closed at $8.10.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price target on Solaris Resources from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Solaris Resources Stock Up 3.3%

The company has a market capitalization of $1.40 billion, a P/E ratio of -23.91 and a beta of 0.50. The business has a 50 day moving average of $7.40 and a 200 day moving average of $6.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SLSR. Russell Investments Group Ltd. purchased a new stake in Solaris Resources during the third quarter valued at $38,000. Farther Finance Advisors LLC bought a new stake in shares of Solaris Resources in the 3rd quarter worth about $38,000. Raymond James Financial Inc. purchased a new stake in shares of Solaris Resources during the 2nd quarter valued at about $38,000. Public Employees Retirement System of Ohio bought a new position in shares of Solaris Resources in the 3rd quarter valued at about $123,000. Finally, National Bank of Canada FI lifted its holdings in shares of Solaris Resources by 133.1% in the 3rd quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock valued at $118,000 after acquiring an additional 11,178 shares during the last quarter.

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.