Solaris Resources Inc. (NYSEAMERICAN:SLSR) Sees Significant Increase in Short Interest

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 660,869 shares, a growth of 50.5% from the January 15th total of 439,089 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 252,682 shares, the short-interest ratio is currently 2.6 days. Based on an average daily volume of 252,682 shares, the short-interest ratio is currently 2.6 days. Currently, 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Solaris Resources

Large investors have recently modified their holdings of the company. Helikon Investments Ltd increased its position in shares of Solaris Resources by 453.8% in the second quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock valued at $22,037,000 after acquiring an additional 3,942,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Solaris Resources in the third quarter worth about $15,017,000. NewGen Equity Long Short Fund purchased a new position in Solaris Resources during the 2nd quarter valued at about $6,869,000. JPMorgan Chase & Co. bought a new position in Solaris Resources during the 3rd quarter valued at approximately $9,012,000. Finally, Bank of America Corp DE lifted its holdings in Solaris Resources by 316.3% in the 3rd quarter. Bank of America Corp DE now owns 1,078,837 shares of the company’s stock worth $6,872,000 after buying an additional 819,692 shares during the period.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price objective on Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Solaris Resources Stock Down 2.0%

NYSEAMERICAN:SLSR traded down $0.20 during midday trading on Friday, hitting $9.70. The company had a trading volume of 84,536 shares, compared to its average volume of 200,738. The company has a market capitalization of $1.62 billion, a PE ratio of -27.71 and a beta of 0.47. Solaris Resources has a 52-week low of $2.50 and a 52-week high of $11.43. The stock’s fifty day moving average price is $8.78 and its 200-day moving average price is $7.00.

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.