Solaris Resources Inc. $SLSR is NewGen Asset Management Ltd’s 10th Largest Position

NewGen Asset Management Ltd raised its position in Solaris Resources Inc. (NYSEAMERICAN:SLSR) by 25.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,500,000 shares of the company’s stock after acquiring an additional 300,000 shares during the period. Solaris Resources accounts for about 3.8% of NewGen Asset Management Ltd’s portfolio, making the stock its 10th largest position. NewGen Asset Management Ltd’s holdings in Solaris Resources were worth $6,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in Solaris Resources by 5.4% during the second 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 America Corp DE lifted its stake 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 worth $1,187,000 after acquiring an additional 201,582 shares during the last quarter. Jane Street Group LLC acquired a new position in Solaris Resources during the 2nd quarter worth approximately $97,000. Raymond James Financial Inc. purchased a new stake in shares of Solaris Resources in the 2nd quarter valued at approximately $38,000. Finally, Amundi increased its position in shares of Solaris Resources by 9.8% in the 2nd quarter. Amundi now owns 930,900 shares of the company’s stock valued at $4,375,000 after purchasing an additional 82,770 shares during the last quarter.

Wall Street Analyst Weigh In

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

Solaris Resources Price Performance

NYSEAMERICAN SLSR opened at $7.94 on Friday. The company has a fifty day moving average of $6.74 and a two-hundred day moving average of $5.70. The company has a market capitalization of $1.32 billion, a PE ratio of -22.69 and a beta of 0.46. Solaris Resources Inc. has a 1 year low of $2.50 and a 1 year high of $8.07.

Solaris Resources Company Profile

Solaris Resources Inc engages in exploration of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company’s flagship project is the 100% owned Warintza Copper and Gold Project comprising nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.