Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 52-Week High – Should You Buy?

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) reached a new 52-week high on Wednesday . The stock traded as high as $11.48 and last traded at $11.3350, with a volume of 140236 shares. The stock had previously closed at $10.93.

Wall Street Analyst Weigh In

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

Solaris Resources Price Performance

The company has a market cap of $1.65 billion, a PE ratio of -54.96 and a beta of 1.16. The business has a 50-day moving average of $9.45 and a 200 day moving average of $8.73.

Institutional Trading of Solaris Resources

A number of hedge funds have recently bought and sold shares of SLSR. Goldman Sachs Group Inc. increased its position in Solaris Resources by 1.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock valued at $3,422,000 after acquiring an additional 14,824 shares during the last quarter. Amundi increased its position in Solaris Resources by 9.8% during the second quarter. Amundi now owns 930,900 shares of the company’s stock valued at $4,375,000 after acquiring an additional 82,770 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Solaris Resources during the second quarter valued at $38,000. Jane Street Group LLC purchased a new stake in Solaris Resources during the second quarter valued at $97,000. Finally, Bank of America Corp DE increased its position in Solaris Resources by 350.2% during the second quarter. Bank of America Corp DE now owns 259,145 shares of the company’s stock valued at $1,187,000 after acquiring an additional 201,582 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.