Solaris Resources Inc. (NYSEAMERICAN:SLSR) Sees Large Increase in Short Interest

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 660,869 shares, a growth of 50.5% from the January 15th total of 439,089 shares. Based on an average trading volume of 252,682 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.4% of the company’s shares are sold short. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 252,682 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Trading of Solaris Resources

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of Solaris Resources during the fourth quarter worth $36,000. Marshall Wace LLP acquired a new position in Solaris Resources in the 4th quarter worth about $103,000. PSquared Asset Management AG increased its holdings in Solaris Resources by 1.0% in the 4th quarter. PSquared Asset Management AG now owns 3,963,015 shares of the company’s stock worth $31,761,000 after purchasing an additional 38,957 shares in the last quarter. Heron Bay Capital Management bought a new position in Solaris Resources in the fourth quarter valued at about $140,000. Finally, Bank of Montreal Can boosted its stake in shares of Solaris Resources by 0.8% during the fourth quarter. Bank of Montreal Can now owns 333,630 shares of the company’s stock valued at $2,674,000 after purchasing an additional 2,668 shares in the last quarter.

Solaris Resources Trading Down 2.0%

Solaris Resources stock traded down $0.20 during midday trading on Monday, reaching $9.70. The company’s stock had a trading volume of 84,536 shares, compared to its average volume of 200,738. The stock has a market cap of $1.62 billion, a PE ratio of -27.71 and a beta of 0.47. Solaris Resources has a 52 week low of $2.50 and a 52 week high of $11.43. The business has a 50-day moving average price of $8.78 and a 200-day moving average price of $7.00.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price objective on Solaris Resources from $13.50 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Solaris Resources currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

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.