NewGen Asset Management Ltd reduced its holdings in Solaris Resources Inc. (NYSEAMERICAN:SLSR – Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,219,657 shares of the company’s stock after selling 428,543 shares during the quarter. Solaris Resources accounts for about 6.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 8th largest position. NewGen Asset Management Ltd’s holdings in Solaris Resources were worth $9,778,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC bought a new position in Solaris Resources in the 4th quarter worth about $36,000. Russell Investments Group Ltd. purchased a new position in Solaris Resources in the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. bought a new position in shares of Solaris Resources in the 2nd quarter worth $38,000. Farther Finance Advisors LLC increased its holdings in shares of Solaris Resources by 50.0% in the 4th quarter. Farther Finance Advisors LLC now owns 9,000 shares of the company’s stock worth $72,000 after buying an additional 3,000 shares during the last quarter. Finally, Themes Management Co LLC bought a new position in shares of Solaris Resources in the 4th quarter worth $92,000.
Analyst Upgrades and Downgrades
Separately, HC Wainwright increased their price target on shares of Solaris Resources from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.00.
Solaris Resources Price Performance
Shares of NYSEAMERICAN:SLSR opened at $9.98 on Tuesday. The company’s fifty day moving average price is $9.88 and its 200-day moving average price is $9.19. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -55.44 and a beta of 1.06. Solaris Resources Inc. has a one year low of $4.29 and a one year high of $11.48.
Solaris Resources 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.
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