Short Interest in Solaris Resources Inc. (OTCMKTS:SLSSF) Increases By 42.4%

Solaris Resources Inc. (OTCMKTS:SLSSF – Get Rating) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 350,500 shares, an increase of 42.4% from the March 31st total of 246,200 shares. Based on an average trading volume of 7,600 shares, the short-interest ratio is currently 46.1 days.

Shares of SLSSF stock traded up $0.17 during trading on Friday, reaching $10.04. The company had a trading volume of 375 shares, compared to its average volume of 6,472. The firm’s 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $10.94. Solaris Resources has a one year low of $7.85 and a one year high of $13.41.

A number of equities research analysts have recently weighed in on the company. National Bank Financial assumed coverage on Solaris Resources in a research note on Wednesday, April 13th. They set an “outperform” rating and a C$20.00 price target for the company. BMO Capital Markets raised their price target on Solaris Resources from C$18.00 to C$19.00 in a research note on Wednesday, January 19th. Scotiabank raised their price target on Solaris Resources from C$18.00 to C$19.50 in a research note on Tuesday, April 19th. TD Securities raised their price target on Solaris Resources from C$22.00 to C$25.00 in a research note on Wednesday, April 20th. Finally, Royal Bank of Canada raised their price objective on Solaris Resources from C$18.00 to C$20.00 in a research note on Tuesday, April 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Solaris Resources currently has a consensus rating of “Buy” and a consensus target price of $20.70.

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's flagship project is the 100% owned Warintza Copper and Gold Project comprising eight metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.

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