Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 1-Year High – Time to Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR) reached a new 52-week high on Thursday . The stock traded as high as $6.75 and last traded at $6.5910, with a volume of 18482 shares. The stock had previously closed at $6.34.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price target on Solaris Resources from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.00.

Solaris Resources Stock Up 4.7%

The company has a market cap of $1.10 billion, a P/E ratio of -44.23 and a beta of 0.61. The firm has a fifty day moving average price of $5.81 and a 200 day moving average price of $5.10.

Hedge Funds Weigh In On Solaris Resources

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Solaris Resources by 5.6% during the 1st quarter. Jennison Associates LLC now owns 1,094,669 shares of the company’s stock worth $3,683,000 after buying an additional 58,329 shares during the period. Mackenzie Financial Corp increased its position in shares of Solaris Resources by 0.4% during the first quarter. Mackenzie Financial Corp now owns 644,526 shares of the company’s stock worth $2,168,000 after acquiring an additional 2,394 shares in the last quarter. National Bank of Canada FI acquired a new position in Solaris Resources in the 1st quarter worth $37,000. Helikon Investments Ltd acquired a new position in Solaris Resources in the 1st quarter worth $2,945,000. Finally, Northwest & Ethical Investments L.P. boosted its stake in Solaris Resources by 221.1% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 116,174 shares of the company’s stock worth $391,000 after purchasing an additional 79,995 shares during the period.

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.