Anson Funds Management LP Boosts Stock Position in Solaris Resources Inc. $SLSR

Key Points

• Anson Funds Management LP increased its stake in Solaris Resources Inc. by 21.0% during Q1, now holding 1,153,154 shares valued at approximately $3.6 million.
• Other institutional investors have also shifted their holdings, with Northwest & Ethical Investments L.P. boosting its shares by 221.1%, now owning 116,174 shares worth $391,000.
• HC Wainwright raised its price target for Solaris Resources from $10.00 to $11.00 and assigned a "buy" rating, contributing to a consensus rating of "Moderate Buy" with a price target of $11.00.

Anson Funds Management LP raised its position in shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 21.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,153,154 shares of the company's stock after buying an additional 200,000 shares during the quarter. Anson Funds Management LP's holdings in Solaris Resources were worth $3,628,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in shares of Solaris Resources during the 1st quarter worth about $37,000. Northwest & Ethical Investments L.P. grew 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 valued at $391,000 after buying an additional 79,995 shares during the last quarter. Mackenzie Financial Corp raised its stake in Solaris Resources by 0.4% during the first quarter. Mackenzie Financial Corp now owns 644,526 shares of the company's stock worth $2,168,000 after acquiring an additional 2,394 shares in the last quarter. Helikon Investments Ltd acquired a new stake in shares of Solaris Resources in the first quarter valued at about $2,945,000. Finally, Jennison Associates LLC increased its holdings in Solaris Resources by 5.6% in the first quarter. Jennison Associates LLC now owns 1,094,669 shares of the company's stock worth $3,683,000 after purchasing an additional 58,329 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright upped their target price on Solaris Resources from $11.00 to $13.00 and gave the company a "buy" rating in a report on Friday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.00.

Solaris Resources Stock Down 1.6%

NYSEAMERICAN:SLSR traded down $0.09 on Friday, hitting $5.45. 5,318 shares of the stock were exchanged, compared to its average volume of 53,652. The firm has a market capitalization of $900.67 million, a PE ratio of -36.33 and a beta of 0.46. The business has a 50-day moving average of $5.11. Solaris Resources Inc. has a 52 week low of $1.90 and a 52 week high of $5.88.

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.