Solaris Resources Inc. (NYSEAMERICAN:SLSR) Sees Large Decline in Short Interest

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 546,809 shares, a drop of 38.8% from the November 30th total of 892,910 shares. Based on an average daily volume of 80,142 shares, the days-to-cover ratio is currently 6.8 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 80,142 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Helikon Investments Ltd grew its position in Solaris Resources by 453.8% in the 2nd quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock valued at $22,037,000 after buying an additional 3,942,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solaris Resources in the third quarter valued at approximately $15,017,000. NewGen Equity Long Short Fund acquired a new position in shares of Solaris Resources during the second quarter valued at approximately $6,869,000. JPMorgan Chase & Co. acquired a new position in shares of Solaris Resources during the third quarter valued at approximately $9,012,000. Finally, Bank of America Corp DE raised its holdings in Solaris Resources by 316.3% during the third quarter. Bank of America Corp DE now owns 1,078,837 shares of the company’s stock worth $6,872,000 after purchasing an additional 819,692 shares in the last quarter.

Solaris Resources Stock Performance

Shares of NYSEAMERICAN SLSR traded down $0.47 during trading on Monday, reaching $7.91. The stock had a trading volume of 155,922 shares, compared to its average volume of 94,210. The stock has a market cap of $1.32 billion, a PE ratio of -22.60 and a beta of 0.45. Solaris Resources has a one year low of $2.50 and a one year high of $8.39. The firm’s 50 day moving average price is $7.19 and its two-hundred day moving average price is $5.98.

Analysts Set New Price Targets

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

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.