Solaris Resources Inc. (NYSEAMERICAN:SLSR) Short Interest Update

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 861,553 shares, an increase of 20.5% from the February 26th total of 714,787 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 139,090 shares, the days-to-cover ratio is currently 6.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Helikon Investments Ltd raised its stake in Solaris Resources by 32.5% during the fourth quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock worth $71,906,000 after acquiring an additional 2,210,452 shares during the period. PSquared Asset Management AG grew its holdings in shares of Solaris Resources by 1.0% during the fourth quarter. PSquared Asset Management AG now owns 3,963,015 shares of the company’s stock valued at $31,761,000 after purchasing an additional 38,957 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solaris Resources during the third quarter valued at approximately $15,017,000. Picton Mahoney Asset Management raised its position in shares of Solaris Resources by 3.8% during the 4th quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock worth $16,395,000 after purchasing an additional 74,152 shares during the period. Finally, NewGen Asset Management Ltd lifted its holdings in shares of Solaris Resources by 9.9% in the 3rd quarter. NewGen Asset Management Ltd now owns 1,648,200 shares of the company’s stock worth $10,911,000 after purchasing an additional 148,200 shares during the last quarter.

Wall Street Analyst Weigh In

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

Solaris Resources Price Performance

SLSR traded up $0.60 during trading hours on Tuesday, hitting $8.58. 116,682 shares of the stock were exchanged, compared to its average volume of 167,873. The stock has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $7.84. Solaris Resources has a 12 month low of $2.50 and a 12 month high of $11.43. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -34.32 and a beta of 0.30.

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.