Solaris Resources (TSE:SLS) Reaches New 12-Month High – Here’s Why

Solaris Resources Inc. (TSE:SLS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$11.80 and last traded at C$11.57, with a volume of 141035 shares changing hands. The stock had previously closed at C$11.40.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLS. National Bankshares upped their target price on shares of Solaris Resources from C$17.00 to C$20.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Royal Bank Of Canada boosted their price objective on shares of Solaris Resources from C$12.00 to C$18.00 in a report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$19.00.

Solaris Resources Price Performance

The company has a market cap of C$1.94 billion, a P/E ratio of -32.31 and a beta of 1.67. The company’s 50-day moving average price is C$10.50 and its two-hundred day moving average price is C$8.62. The company has a current ratio of 4.62, a quick ratio of 1.29 and a debt-to-equity ratio of 712.38.

About Solaris Resources

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.