Solaris Resources (TSE:SLS) Shares Down 6%

Solaris Resources Inc. (TSE:SLS)’s share price fell 6% during trading on Wednesday . The company traded as low as C$5.15 and last traded at C$5.16. 200,194 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 171,642 shares. The stock had previously closed at C$5.49.

Wall Street Analysts Forecast Growth

SLS has been the subject of several recent research reports. TD Securities cut their price target on Solaris Resources from C$20.00 to C$17.00 and set a “speculative buy” rating for the company in a report on Tuesday, March 5th. BMO Capital Markets cut their price objective on Solaris Resources from C$17.00 to C$15.00 in a research note on Friday, January 12th. Finally, Canaccord Genuity Group raised their target price on shares of Solaris Resources from C$13.50 to C$14.50 in a research note on Wednesday, April 17th.

Solaris Resources Trading Down 6.0 %

The stock has a fifty day simple moving average of C$4.64 and a 200 day simple moving average of C$4.51. The firm has a market capitalization of C$911.41 million, a P/E ratio of -11.22 and a beta of 2.00. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.53.

About Solaris Resources

Solaris Resources Inc engages in exploration 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 nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.