Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

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

Solaris Resources Trading Up 1.8%

The stock has a market cap of $1.86 billion, a PE ratio of -44.52 and a beta of 1.16. The business has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $8.67.

Hedge Funds Weigh In On Solaris Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in shares of Solaris Resources in the 4th quarter worth about $36,000. Russell Investments Group Ltd. bought a new position in shares of Solaris Resources during the third quarter valued at approximately $38,000. Raymond James Financial Inc. bought a new position in shares of Solaris Resources during the second quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its position in shares of Solaris Resources by 50.0% in the 4th quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock worth $72,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Themes Management Co LLC purchased a new stake in shares of Solaris Resources in the 4th quarter worth approximately $92,000.

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.