Solaris Resources (TSE:SLS) Stock Price Down 1.4%

Solaris Resources Inc. (TSE:SLS) dropped 1.4% on Wednesday . The stock traded as low as C$2.87 and last traded at C$2.89. Approximately 170,525 shares changed hands during trading, a decline of 24% from the average daily volume of 223,104 shares. The stock had previously closed at C$2.93.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLS. National Bankshares raised their price target on Solaris Resources from C$8.50 to C$9.00 in a research note on Monday, July 22nd. TD Securities dropped their price target on shares of Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Eight Capital decreased their price target on shares of Solaris Resources from C$23.50 to C$15.00 in a report on Thursday, July 11th. Canaccord Genuity Group lifted their target price on Solaris Resources from C$14.50 to C$16.00 in a report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price target on Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$13.60.

Solaris Resources Stock Performance

The stock has a 50 day simple moving average of C$3.40 and a 200 day simple moving average of C$4.15. The company has a quick ratio of 1.29, a current ratio of 5.37 and a debt-to-equity ratio of 93.10. The company has a market cap of C$468.87 million, a price-to-earnings ratio of -6.42 and a beta of 1.89.

Insider Buying and Selling

In other Solaris Resources news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$4.02, for a total value of C$75,220.15. 43.49% of the stock is currently owned by corporate insiders.

Solaris Resources Company Profile

Solaris Resources Inc engages in exploration of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company's flagship project is the 100% owned Warintza Copper and Gold Project comprising nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.