Short Interest in Solaris Resources Inc. (NYSEAMERICAN:SLSR) Grows By 20.5%

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 861,553 shares, a growth of 20.5% from the February 26th total of 714,787 shares. Based on an average daily trading volume, of 139,090 shares, the short-interest ratio is currently 6.2 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Trading of Solaris Resources

Large investors have recently made changes to their positions in the company. Helikon Investments Ltd raised its stake in Solaris Resources by 32.5% in the 4th quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock valued at $71,906,000 after purchasing an additional 2,210,452 shares during the last quarter. PSquared Asset Management AG boosted its stake in Solaris Resources by 1.0% during the 4th quarter. PSquared Asset Management AG now owns 3,963,015 shares of the company’s stock worth $31,761,000 after purchasing an additional 38,957 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Solaris Resources during the third quarter worth $15,017,000. Picton Mahoney Asset Management grew its holdings in shares of Solaris Resources by 3.8% during the fourth quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock worth $16,395,000 after buying an additional 74,152 shares in the last quarter. Finally, NewGen Asset Management Ltd raised its position in shares of Solaris Resources by 9.9% in the third quarter. NewGen Asset Management Ltd now owns 1,648,200 shares of the company’s stock valued at $10,911,000 after buying an additional 148,200 shares during the last quarter.

Solaris Resources Trading Up 4.0%

NYSEAMERICAN:SLSR traded up $0.34 during trading hours on Wednesday, hitting $8.92. 9,330 shares of the stock were exchanged, compared to its average volume of 165,240. The firm’s fifty day moving average price is $9.43 and its 200 day moving average price is $7.87. Solaris Resources has a 52-week low of $2.50 and a 52-week high of $11.43. The company has a market cap of $1.49 billion, a P/E ratio of -35.64 and a beta of 0.31.

Wall Street Analyst Weigh In

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

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.