Solaris Resources (NYSEAMERICAN:SLSR) Shares Up 8.3% – Still a Buy?

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) were up 8.3% during trading on Thursday . The stock traded as high as $8.77 and last traded at $8.6460. Approximately 19,150 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 148,488 shares. The stock had previously closed at $7.98.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price target on shares of Solaris Resources from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Solaris Resources presently has a consensus rating of “Buy” and an average target price of $18.00.

Solaris Resources Price Performance

The stock has a market cap of $1.42 billion, a P/E ratio of -47.28 and a beta of 1.23. The business’s 50 day simple moving average is $9.65 and its 200 day simple moving average is $9.27.

Hedge Funds Weigh In On Solaris Resources

Hedge funds have recently modified their holdings of the stock. Cardinal Point Capital Management ULC lifted its position in shares of Solaris Resources by 1.9% during the 1st quarter. Cardinal Point Capital Management ULC now owns 54,500 shares of the company’s stock worth $470,000 after buying an additional 1,000 shares during the period. Pictet Asset Management Holding SA grew its position in Solaris Resources by 6.3% in the first quarter. Pictet Asset Management Holding SA now owns 21,975 shares of the company’s stock valued at $189,000 after acquiring an additional 1,293 shares during the period. Tidal Investments LLC grew its position in Solaris Resources by 5.4% in the second quarter. Tidal Investments LLC now owns 50,200 shares of the company’s stock valued at $230,000 after acquiring an additional 2,586 shares during the period. Bank of Montreal Can raised its stake in Solaris Resources by 0.8% during the fourth quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock worth $2,674,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Solaris Resources by 50.0% during the fourth quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock worth $72,000 after acquiring an additional 3,000 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.