Solaris Resources (TSE:SLS) Hits New 12-Month High – Should You Buy?

Shares of Solaris Resources Inc. (TSE:SLS) hit a new 52-week high on Monday . The stock traded as high as C$10.17 and last traded at C$10.04, with a volume of 47943 shares trading hands. The stock had previously closed at C$9.85.

Analyst Upgrades and Downgrades

Separately, National Bankshares lifted their price target on shares of Solaris Resources from C$12.50 to C$13.50 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Solaris Resources presently has a consensus rating of “Buy” and an average target price of C$13.50.

Solaris Resources Stock Performance

The company has a debt-to-equity ratio of 712.38, a current ratio of 4.62 and a quick ratio of 1.29. The company has a fifty day moving average of C$8.16 and a two-hundred day moving average of C$7.13. The stock has a market capitalization of C$1.66 billion, a P/E ratio of -24.37 and a beta of 1.99.

Solaris Resources Company Profile

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.