Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Up – Still a Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $7.98, but opened at $8.87. Solaris Resources shares last traded at $8.8550, with a volume of 3,549 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright boosted their price objective on Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Solaris Resources currently has a consensus rating of “Buy” and an average target price of $16.00.

Solaris Resources Stock Up 4.0%

The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -35.64 and a beta of 0.31. The business’s fifty day moving average is $9.43 and its 200 day moving average is $7.87.

Institutional Trading of Solaris Resources

Several hedge funds and other institutional investors have recently modified their holdings of SLSR. Helikon Investments Ltd lifted its holdings in shares of Solaris Resources by 32.5% in the fourth quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock valued at $71,906,000 after purchasing an additional 2,210,452 shares in the last quarter. PSquared Asset Management AG grew its holdings in shares of Solaris Resources by 1.0% during the fourth quarter. PSquared Asset Management AG now owns 3,963,015 shares of the company’s stock worth $31,761,000 after buying an additional 38,957 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Solaris Resources during the third quarter worth about $15,017,000. Picton Mahoney Asset Management raised its position in Solaris Resources by 3.8% in the 4th quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock valued at $16,395,000 after buying an additional 74,152 shares during the last quarter. Finally, NewGen Asset Management Ltd raised its position in Solaris Resources by 9.9% in the 3rd quarter. NewGen Asset Management Ltd now owns 1,648,200 shares of the company’s stock valued at $10,911,000 after buying an additional 148,200 shares during the last quarter.

About Solaris Resources

Solaris Resources (NYSEAMERICAN: SLSR) is a Vancouver-based mineral exploration company dedicated to the discovery, acquisition and advancement of large-scale copper and gold deposits across the Americas. Established in 2017, the company focuses on generating high-potential projects in mining-friendly jurisdictions and applying innovative exploration techniques to de-risk assets at an early stage. Solaris leverages a multidisciplinary technical team to identify and systematically evaluate resource targets with district-scale potential.

The company’s flagship asset is the Warintza copper project in southeastern Ecuador, where Solaris has assembled a strategic land position in the emerging Andean copper belt.