HC Wainwright Issues Positive Forecast for Solaris Resources (NYSEAMERICAN:SLSR) Stock Price

Solaris Resources (NYSEAMERICAN:SLSR) had its target price upped by HC Wainwright from $16.00 to $18.00 in a report issued on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Solaris Resources Stock Performance

Solaris Resources stock opened at $10.12 on Monday. The company’s fifty day moving average price is $9.30 and its 200 day moving average price is $8.09. Solaris Resources has a 1 year low of $2.99 and a 1 year high of $11.43. The stock has a market capitalization of $1.69 billion, a P/E ratio of -40.48 and a beta of 1.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Helikon Investments Ltd lifted its holdings in Solaris Resources by 41.6% in the 3rd quarter. Helikon Investments Ltd now owns 6,811,620 shares of the company’s stock valued at $43,390,000 after purchasing an additional 2,000,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Solaris Resources in the 3rd quarter valued at $9,012,000. Anson Funds Management LP purchased a new position in Solaris Resources in the 3rd quarter valued at $956,000. Spark Investment Management LLC lifted its holdings in Solaris Resources by 18.5% in the 4th quarter. Spark Investment Management LLC now owns 32,000 shares of the company’s stock valued at $256,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Themes Management Co LLC purchased a new position in Solaris Resources in the 4th quarter valued at $92,000.

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.