Solaris Resources (TSE:SLS) Sets New 52-Week Low at $3.53

Solaris Resources Inc. (TSE:SLS) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$3.53 and last traded at C$3.54, with a volume of 295341 shares trading hands. The stock had previously closed at C$3.72.

Wall Street Analyst Weigh In

A number of research firms have commented on SLS. Eight Capital reduced their target price on Solaris Resources from C$23.50 to C$15.00 in a report on Thursday, July 11th. TD Securities reduced their target price on Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Canaccord Genuity Group increased their target price on Solaris Resources from C$13.50 to C$14.50 in a report on Wednesday, April 17th. Finally, BMO Capital Markets reduced their target price on Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Solaris Resources presently has an average rating of “Buy” and an average price target of C$13.10.

Solaris Resources Trading Down 2.2 %

The firm has a market cap of C$549.02 million, a P/E ratio of -9.97 and a beta of 2.00. The company has a debt-to-equity ratio of 228.34, a quick ratio of 1.29 and a current ratio of 4.30. The firm has a fifty day moving average of C$4.41 and a 200-day moving average of C$4.34.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$4.02, for a total value of C$75,220.15. Company insiders own 46.74% of the company’s stock.

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.