Amundi Has $2.77 Million Stake in Solaris Resources Inc. $SLSR

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

A number of other large investors also recently modified their holdings of SLSR. National Bank of Canada FI acquired a new position in Solaris Resources in the first quarter valued at approximately $37,000. Ewing Morris & Co. Investment Partners Ltd. lifted its holdings in Solaris Resources by 35.9% in the first quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 87,100 shares of the company's stock valued at $295,000 after buying an additional 23,000 shares during the period. Northwest & Ethical Investments L.P. lifted its holdings in Solaris Resources by 221.1% in the first quarter. Northwest & Ethical Investments L.P. now owns 116,174 shares of the company's stock valued at $391,000 after buying an additional 79,995 shares during the period. Mackenzie Financial Corp lifted its holdings in Solaris Resources by 0.4% in the first quarter. Mackenzie Financial Corp now owns 644,526 shares of the company's stock valued at $2,168,000 after buying an additional 2,394 shares during the period. Finally, Helikon Investments Ltd acquired a new position in Solaris Resources in the first quarter valued at approximately $2,945,000.

Solaris Resources Trading Up 2.7%

Shares of SLSR traded up $0.14 during trading hours on Friday, reaching $5.34. The stock had a trading volume of 118,703 shares, compared to its average volume of 36,643. Solaris Resources Inc. has a 52 week low of $2.17 and a 52 week high of $5.88. The company's 50-day moving average is $5.25. The company has a market cap of $882.49 million, a P/E ratio of -35.60 and a beta of 0.47.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Solaris Resources has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Solaris Resources Company 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.