Solaris Resources (TSE:SLS) Reaches New 1-Year High After Analyst Upgrade

Solaris Resources Inc. (TSE:SLS) shares reached a new 52-week high during trading on Friday after National Bankshares raised their price target on the stock from C$17.00 to C$20.00. National Bankshares currently has an outperform rating on the stock. Solaris Resources traded as high as C$11.09 and last traded at C$10.91, with a volume of 90022 shares changing hands. The stock had previously closed at C$11.00.

Separately, Royal Bank Of Canada upped their price target on shares of Solaris Resources from C$12.00 to C$18.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$19.00.

Solaris Resources Stock Down 0.8%

The company has a market capitalization of C$1.82 billion, a price-to-earnings ratio of -30.31 and a beta of 1.68. The business’s 50-day moving average is C$9.42 and its 200-day moving average is C$7.89. The company has a quick ratio of 1.29, a current ratio of 4.62 and a debt-to-equity ratio of 712.38.

About Solaris Resources

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.