L1 Capital Pty Ltd Decreases Position in Solaris Resources Inc. $SLSR

L1 Capital Pty Ltd cut its stake in shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,229,384 shares of the company’s stock after selling 1,700,239 shares during the period. Solaris Resources accounts for about 1.4% of L1 Capital Pty Ltd’s portfolio, making the stock its 13th biggest position. L1 Capital Pty Ltd’s holdings in Solaris Resources were worth $25,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Montreal Can raised its holdings in shares of Solaris Resources by 0.8% in the fourth quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock worth $2,674,000 after buying an additional 2,668 shares during the period. Picton Mahoney Asset Management raised its holdings in shares of Solaris Resources by 3.8% in the fourth quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock worth $16,395,000 after buying an additional 74,152 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Solaris Resources by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,438,922 shares of the company’s stock worth $11,468,000 after buying an additional 24,133 shares during the period. Spark Investment Management LLC raised its holdings in shares of Solaris Resources by 18.5% in the fourth quarter. Spark Investment Management LLC now owns 32,000 shares of the company’s stock worth $256,000 after buying an additional 5,000 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Solaris Resources by 5.8% in the fourth quarter. TD Asset Management Inc now owns 118,204 shares of the company’s stock worth $949,000 after buying an additional 6,438 shares during the period.

Analyst Ratings Changes

Separately, HC Wainwright increased their price target on Solaris Resources from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Solaris Resources presently has an average rating of “Buy” and an average price target of $18.00.

Solaris Resources Stock Performance

Shares of NYSEAMERICAN SLSR opened at $9.38 on Friday. The business’s 50 day moving average price is $9.86 and its 200-day moving average price is $9.16. Solaris Resources Inc. has a fifty-two week low of $4.29 and a fifty-two week high of $11.48. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -52.11 and a beta of 1.06.

Solaris Resources Company Profile

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.