HC Wainwright Raises Solaris Resources (NYSEAMERICAN:SLSR) Price Target to $16.00

Solaris Resources (NYSEAMERICAN:SLSR) had its price target boosted by HC Wainwright from $13.50 to $16.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 73.16% from the stock’s previous close.

Solaris Resources Trading Up 2.3%

Shares of SLSR stock opened at $9.24 on Wednesday. Solaris Resources has a 12-month low of $2.50 and a 12-month high of $9.42. The stock’s 50-day moving average price is $7.91 and its 200-day moving average price is $6.43. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -26.40 and a beta of 0.50.

Institutional Trading of Solaris Resources

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Solaris Resources by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock valued at $3,422,000 after purchasing an additional 14,824 shares in the last quarter. TD Asset Management Inc bought a new position in Solaris Resources during the second quarter valued at $519,000. Helikon Investments Ltd grew its stake in shares of Solaris Resources by 453.8% in the 2nd quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock worth $22,037,000 after buying an additional 3,942,810 shares in the last quarter. NewGen Equity Long Short Fund purchased a new position in shares of Solaris Resources in the 2nd quarter worth $6,869,000. Finally, Mackenzie Financial Corp raised its position in shares of Solaris Resources by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 692,357 shares of the company’s stock valued at $3,175,000 after buying an additional 47,831 shares in the last quarter.

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.