Solaris Resources Inc. $SLSR Shares Bought by Amundi

Key Points

• Amundi increased its stake in Solaris Resources Inc. by 100.3% in the first quarter, now holding 848,130 shares valued at approximately $2.76 million.
• Analyst firm HC Wainwright raised its target price for Solaris Resources from $11.00 to $13.00, affirming a buy rating on the stock.
• Shares of Solaris Resources opened at $5.20, with a market capitalization of approximately $859.35 million, and a price-to-earnings ratio of -34.66.

Amundi lifted its holdings in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 100.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,130 shares of the company's stock after purchasing an additional 424,802 shares during the quarter. Amundi's holdings in Solaris Resources were worth $2,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLSR. National Bank of Canada FI acquired a new stake in Solaris Resources in the first quarter worth about $37,000. Ewing Morris & Co. Investment Partners Ltd. boosted its stake in Solaris Resources by 35.9% in the 1st quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 87,100 shares of the company's stock worth $295,000 after purchasing an additional 23,000 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Solaris Resources by 221.1% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 116,174 shares of the company's stock worth $391,000 after purchasing an additional 79,995 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Solaris Resources by 0.4% in the 1st quarter. Mackenzie Financial Corp now owns 644,526 shares of the company's stock worth $2,168,000 after purchasing an additional 2,394 shares in the last quarter. Finally, Helikon Investments Ltd purchased a new stake in shares of Solaris Resources during the first quarter valued at $2,945,000.

Solaris Resources Price Performance

SLSR stock traded down $0.27 during midday trading on Wednesday, hitting $5.08. 107,550 shares of the company's stock were exchanged, compared to its average volume of 42,694. The stock has a market capitalization of $839.52 million, a PE ratio of -33.86 and a beta of 0.47. Solaris Resources Inc. has a 1-year low of $2.17 and a 1-year high of $5.88. The company's 50-day simple moving average is $5.23.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their price objective on shares of Solaris Resources from $11.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Solaris Resources presently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Solaris Resources Profile

Solaris Resources Inc engages in exploration of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company's flagship project is the 100% owned Warintza Copper and Gold Project comprising nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.