Solaris Resources Inc. (NYSEAMERICAN:SLSR) Short Interest Up 20.5% in March

Solaris Resources Inc. (NYSEAMERICAN:SLSR) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 861,553 shares, a growth of 20.5% from the February 26th total of 714,787 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 139,090 shares, the days-to-cover ratio is currently 6.2 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their price objective on shares of Solaris Resources from $13.50 to $16.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.00.

Solaris Resources Stock Performance

NYSEAMERICAN SLSR opened at $8.83 on Thursday. The stock’s fifty day moving average is $9.43 and its two-hundred day moving average is $7.87. The firm has a market capitalization of $1.47 billion, a P/E ratio of -35.32 and a beta of 1.03. Solaris Resources has a fifty-two week low of $2.50 and a fifty-two week high of $11.43.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLSR. Goldman Sachs Group Inc. grew its holdings in shares of Solaris Resources by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock valued at $3,422,000 after purchasing an additional 14,824 shares during the period. Mackenzie Financial Corp raised its stake in Solaris Resources by 7.4% during the second quarter. Mackenzie Financial Corp now owns 692,357 shares of the company’s stock worth $3,175,000 after purchasing an additional 47,831 shares during the period. Amundi raised its stake in Solaris Resources by 9.8% during the second quarter. Amundi now owns 930,900 shares of the company’s stock worth $4,375,000 after purchasing an additional 82,770 shares during the period. Raymond James Financial Inc. acquired a new position in Solaris Resources in the 2nd quarter valued at about $38,000. Finally, Jane Street Group LLC acquired a new position in Solaris Resources in the 2nd quarter valued at about $97,000.

Solaris Resources Company Profile

Solaris Resources (NYSEAMERICAN: SLSR) is a Vancouver-based mineral exploration company dedicated to the discovery, acquisition and advancement of large-scale copper and gold deposits across the Americas. Established in 2017, the company focuses on generating high-potential projects in mining-friendly jurisdictions and applying innovative exploration techniques to de-risk assets at an early stage. Solaris leverages a multidisciplinary technical team to identify and systematically evaluate resource targets with district-scale potential.

The company’s flagship asset is the Warintza copper project in southeastern Ecuador, where Solaris has assembled a strategic land position in the emerging Andean copper belt.