Solaris Resources (TSE:SLS) Trading Down 2.3% – Should You Sell?

Solaris Resources Inc. (TSE:SLS) shares fell 2.3% on Wednesday . The stock traded as low as C$7.24 and last traded at C$7.28. 201,954 shares traded hands during trading, a decline of 24% from the average session volume of 265,815 shares. The stock had previously closed at C$7.45.

Analysts Set New Price Targets

Separately, National Bankshares set a C$12.50 target price on shares of Solaris Resources and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$12.50.

Solaris Resources Trading Down 2.3%

The company’s fifty day moving average is C$6.87 and its 200-day moving average is C$5.81. The company has a current ratio of 4.62, a quick ratio of 1.29 and a debt-to-equity ratio of 712.38. The firm has a market capitalization of C$835.12 million, a P/E ratio of -12.68 and a beta of 1.90.

Solaris Resources Company Profile

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.