Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Expected to Rise, HC Wainwright Analyst Says

Solaris Resources (NYSEAMERICAN:SLSR) had its price objective upped by analysts at HC Wainwright from $13.50 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 77.58% from the company’s previous close.

Solaris Resources Price Performance

Solaris Resources stock opened at $9.01 on Wednesday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -25.74 and a beta of 0.50. 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 is $7.82 and its 200-day moving average is $6.39.

Institutional Trading of Solaris Resources

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Solaris Resources by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock worth $3,422,000 after buying an additional 14,824 shares during the period. TD Asset Management Inc purchased a new stake in shares of Solaris Resources during the second quarter worth about $519,000. Helikon Investments Ltd lifted its stake in shares of Solaris Resources by 453.8% in the second quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock worth $22,037,000 after acquiring an additional 3,942,810 shares in the last quarter. NewGen Equity Long Short Fund purchased a new position in Solaris Resources in the second quarter valued at about $6,869,000. Finally, Mackenzie Financial Corp grew its stake in 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 purchasing an additional 47,831 shares in 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.