Canaccord Genuity Group Increases Solaris Resources (TSE:SLS) Price Target to C$16.00

Solaris Resources (TSE:SLS) had its target price hoisted by equities researchers at Canaccord Genuity Group from C$14.50 to C$16.00 in a research note issued to investors on Monday, BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 362.43% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Eight Capital lowered their price objective on Solaris Resources from C$23.50 to C$15.00 in a research note on Thursday, July 11th. National Bankshares lifted their target price on Solaris Resources from C$8.50 to C$9.00 in a research report on Monday. BMO Capital Markets decreased their target price on Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. Finally, TD Securities decreased their target price on Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$13.60.

Solaris Resources Stock Up 1.5 %

TSE SLS traded up C$0.05 during mid-day trading on Monday, reaching C$3.46. 105,612 shares of the company’s stock traded hands, compared to its average volume of 203,196. Solaris Resources has a 1-year low of C$3.31 and a 1-year high of C$6.62. The company has a fifty day simple moving average of C$4.30 and a 200-day simple moving average of C$4.32. The company has a current ratio of 4.30, a quick ratio of 1.29 and a debt-to-equity ratio of 228.34. The company has a market cap of C$521.87 million, a price-to-earnings ratio of -9.35 and a beta of 2.00.

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.

About Solaris Resources

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.