Solaris Resources (NYSEAMERICAN:SLSR) Shares Down 7.8% – Here’s What Happened

Solaris Resources Inc. (NYSEAMERICAN:SLSR)’s stock price was down 7.8% on Thursday . The stock traded as low as $7.74 and last traded at $7.8160. 46,506 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 154,794 shares. The stock had previously closed at $8.48.

Solaris Resources Stock Down 6.1%

The firm has a 50 day simple moving average of $8.02 and a 200-day simple moving average of $8.96. The stock has a market cap of $1.33 billion, a P/E ratio of -44.36 and a beta of 1.33.

Hedge Funds Weigh In On Solaris Resources

Large investors have recently modified their holdings of the stock. Helikon Investments Ltd lifted its stake in shares of Solaris Resources by 32.5% during the 4th quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock worth $71,906,000 after buying an additional 2,210,452 shares during the last quarter. PSquared Asset Management AG lifted its position in Solaris Resources by 3.1% during the first quarter. PSquared Asset Management AG now owns 4,084,315 shares of the company’s stock worth $35,262,000 after acquiring an additional 121,300 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Solaris Resources by 291.9% during the first quarter. Principal Financial Group Inc. now owns 3,000,000 shares of the company’s stock worth $25,818,000 after acquiring an additional 2,234,530 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Solaris Resources in the third quarter valued at approximately $15,017,000. Finally, Picton Mahoney Asset Management grew its position in shares of Solaris Resources by 3.8% in the fourth quarter. Picton Mahoney Asset Management now owns 2,042,839 shares of the company’s stock valued at $16,395,000 after purchasing an additional 74,152 shares during the last quarter.

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.