Solaris Resources (TSE:SLS) Hits New 1-Year High Following Analyst Upgrade

Solaris Resources Inc. (TSE:SLS) hit a new 52-week high during trading on Friday after National Bankshares raised their price target on the stock from C$17.00 to C$20.00. National Bankshares currently has an outperform rating on the stock. Solaris Resources traded as high as C$11.09 and last traded at C$10.91, with a volume of 90022 shares changing hands. The stock had previously closed at C$11.00.

Separately, Royal Bank Of Canada raised their price objective on shares of Solaris Resources from C$12.00 to C$18.00 in a research note on Wednesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Solaris Resources has a consensus rating of “Buy” and a consensus target price of C$19.00.

Solaris Resources Stock Down 0.8%

The company has a quick ratio of 1.29, a current ratio of 4.62 and a debt-to-equity ratio of 712.38. The business has a 50-day simple moving average of C$9.42 and a 200-day simple moving average of C$7.88. The company has a market cap of C$1.82 billion, a PE ratio of -30.31 and a beta of 1.68.

About Solaris Resources

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.