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

Solaris Resources Inc. (TSE:SLS)’s share price hit a new 52-week high on Monday . The stock traded as high as C$10.20 and last traded at C$10.03, with a volume of 84954 shares traded. The stock had previously closed at C$9.70.

Analyst Upgrades and Downgrades

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

Solaris Resources Stock Performance

The company has a market cap of C$1.74 billion, a P/E ratio of -28.89 and a beta of 1.99. The business’s 50 day simple moving average is C$8.64 and its 200 day simple moving average is C$7.38. The company has a current ratio of 4.62, a quick ratio of 1.29 and a debt-to-equity ratio of 712.38.

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.