Scotiabank Boosts Solaris Resources (TSE:SLS) Price Target to C$19.50

Solaris Resources (TSE:SLSGet Rating) had its price objective raised by Scotiabank from C$18.00 to C$19.50 in a note issued to investors on Tuesday, BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 32.02% from the stock’s current price.

Several other brokerages have also weighed in on SLS. BMO Capital Markets increased their price objective on shares of Solaris Resources from C$18.00 to C$19.00 in a report on Wednesday, January 19th. National Bankshares increased their price objective on shares of Solaris Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Eight Capital raised their price target on shares of Solaris Resources from C$20.00 to C$23.50 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Solaris Resources currently has an average rating of “Buy” and an average target price of C$21.00.

Shares of TSE:SLS traded down C$0.24 during midday trading on Tuesday, reaching C$14.77. The company’s stock had a trading volume of 206,980 shares, compared to its average volume of 197,175. The company’s 50 day moving average is C$13.58. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.69 and a current ratio of 2.75. Solaris Resources has a 1 year low of C$8.84 and a 1 year high of C$17.17. The firm has a market cap of C$1.61 billion and a price-to-earnings ratio of -22.18.

Solaris Resources Company Profile (Get Rating)

Solaris Resources Inc, engages in acquisition, exploration, and development of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company primarily holds interest in Warintza property covering an area of 26,777 hectares located in southeastern Ecuador. It holds 100% interest in Ricardo property covering an area of 16,000 hectares located in Chile; 75% interest in Tamarugo property covering an area of 5100 hectare located in northern Chile; and holds interest in Capricho project covering an area of 4600 hectares and Paco Orco project covering an area of 4,400 hectares located in Peru.

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