Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Up 5.6% – Here’s Why

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) rose 5.6% on Friday . The stock traded as high as $9.52 and last traded at $9.38. Approximately 114,715 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 130,288 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

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

Solaris Resources Trading Up 5.6%

The company’s 50 day moving average is $9.86 and its 200-day moving average is $9.16. The company has a market capitalization of $1.57 billion, a P/E ratio of -52.11 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLSR. Helikon Investments Ltd raised its position in shares of Solaris Resources by 41.6% in the 3rd quarter. Helikon Investments Ltd now owns 6,811,620 shares of the company’s stock worth $43,390,000 after purchasing an additional 2,000,000 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Solaris Resources in the 3rd quarter worth about $9,012,000. Anson Funds Management LP purchased a new position in shares of Solaris Resources in the 3rd quarter worth about $956,000. UBS Group AG raised its position in shares of Solaris Resources by 37.7% in the 4th quarter. UBS Group AG now owns 625,086 shares of the company’s stock worth $4,982,000 after purchasing an additional 171,004 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of Solaris Resources in the 3rd quarter worth about $172,000.

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.