Solaris Resources (TSE:SLS) Trading 17.5% Higher – Still a Buy?

Solaris Resources Inc. (TSE:SLS) shares rose 17.5% during trading on Wednesday . The company traded as high as C$3.97 and last traded at C$3.97. Approximately 61,700 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 218,355 shares. The stock had previously closed at C$3.38.

Wall Street Analyst Weigh In

Separately, National Bankshares dropped their price objective on shares of Solaris Resources from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$13.50.

Solaris Resources Stock Down 0.2 %

The stock has a market cap of C$686.28 million, a P/E ratio of -9.40 and a beta of 1.90. The company’s 50 day moving average price is C$3.32 and its two-hundred day moving average price is C$3.68. The company has a current ratio of 5.37, a quick ratio of 1.29 and a debt-to-equity ratio of 93.10.

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.