Solaris Resources (NYSEAMERICAN:SLSR) Trading Down 6.9% – What’s Next?

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) were down 6.9% during mid-day trading on Thursday . The company traded as low as $8.90 and last traded at $8.87. 43,003 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 148,051 shares. The stock had previously closed at $9.53.

Analyst Upgrades and Downgrades

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

Solaris Resources Stock Down 6.8%

The firm’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $9.22. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -49.47 and a beta of 1.06.

Hedge Funds Weigh In On Solaris Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLSR. Cardinal Point Capital Management ULC raised its stake in Solaris Resources by 1.9% during the 1st quarter. Cardinal Point Capital Management ULC now owns 54,500 shares of the company’s stock valued at $470,000 after acquiring an additional 1,000 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Solaris Resources by 6.3% in the first quarter. Pictet Asset Management Holding SA now owns 21,975 shares of the company’s stock worth $189,000 after purchasing an additional 1,293 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Solaris Resources by 5.4% during the second quarter. Tidal Investments LLC now owns 50,200 shares of the company’s stock valued at $230,000 after purchasing an additional 2,586 shares during the period. Bank of Montreal Can increased its holdings in shares of Solaris Resources by 0.8% during the fourth quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock valued at $2,674,000 after purchasing an additional 2,668 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Solaris Resources by 50.0% during the fourth quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock valued at $72,000 after purchasing an additional 3,000 shares in the last quarter.

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.