Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 12-Month High – Should You Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $10.28 and last traded at $9.70, with a volume of 403549 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on shares of Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Solaris Resources currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Solaris Resources Price Performance

The stock has a market cap of $1.62 billion, a P/E ratio of -27.71 and a beta of 0.50. The company has a 50 day simple moving average of $8.03 and a 200-day simple moving average of $6.50.

Institutional Investors Weigh In On Solaris Resources

Several hedge funds have recently made changes to their positions in SLSR. Farther Finance Advisors LLC purchased a new position in Solaris Resources in the 3rd quarter worth about $38,000. Russell Investments Group Ltd. purchased a new position in shares of Solaris Resources during the 3rd quarter valued at about $38,000. Raymond James Financial Inc. bought a new position in shares of Solaris Resources in the second quarter worth approximately $38,000. Jane Street Group LLC bought a new position in Solaris Resources in the 2nd quarter worth $97,000. Finally, National Bank of Canada FI grew its position in shares of Solaris Resources by 133.1% during the third quarter. National Bank of Canada FI now owns 19,577 shares of the company’s stock worth $118,000 after purchasing an additional 11,178 shares in the last quarter.

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.