Solaris Resources (TSE:SLS) Reaches New 52-Week High – Should You Buy?

Solaris Resources Inc. (TSE:SLS)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$13.12 and last traded at C$12.97, with a volume of 146895 shares changing hands. The stock had previously closed at C$12.68.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. National Bankshares raised their target price on Solaris Resources from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Royal Bank Of Canada increased their price target on Solaris Resources from C$12.00 to C$18.00 in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$19.00.

Solaris Resources Trading Up 5.4%

The firm has a 50-day simple moving average of C$11.03 and a 200-day simple moving average of C$8.96. 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 stock has a market cap of C$2.23 billion, a PE ratio of -37.11 and a beta of 1.67.

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.