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

Key Points

• Anson Funds Management LP has significantly reduced its stake in Solaris Resources Inc. by 79.0%, selling 753,154 shares and now holding 200,000 shares valued at $673,000.
• Several other large investors have also made notable changes to their positions in Solaris Resources, with NewGen Asset Management Ltd and Amundi increasing their holdings by 100.0% and 100.3%, respectively.
• Wall Street analysts have optimistic views, with HC Wainwright raising the price target on Solaris Resources from $11.00 to $13.00 and assigning a "buy" rating to the stock.

Anson Funds Management LP lowered its position in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 79.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company's stock after selling 753,154 shares during the period. Anson Funds Management LP's holdings in Solaris Resources were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Solaris Resources by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company's stock worth $3,422,000 after acquiring an additional 14,824 shares during the period. Amundi grew its holdings in shares of Solaris Resources by 100.3% in the 1st quarter. Amundi now owns 848,130 shares of the company's stock worth $2,765,000 after acquiring an additional 424,802 shares during the period. L1 Capital Pty Ltd grew its holdings in shares of Solaris Resources by 0.9% in the 1st quarter. L1 Capital Pty Ltd now owns 4,929,623 shares of the company's stock worth $16,582,000 after acquiring an additional 41,812 shares during the period. Ewing Morris & Co. Investment Partners Ltd. grew its holdings in Solaris Resources by 35.9% during the 1st 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 last quarter. Finally, PSquared Asset Management AG acquired a new stake in Solaris Resources during the 1st quarter valued at $15,297,000.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on Solaris Resources from $11.00 to $13.00 and gave the company a "buy" rating in a research 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.00.

Solaris Resources Stock Performance

SLSR stock traded up $0.10 during trading on Tuesday, reaching $5.46. The company had a trading volume of 10,911 shares, compared to its average volume of 53,782. Solaris Resources Inc. has a twelve month low of $2.17 and a twelve month high of $5.88. The business has a 50-day simple moving average of $5.24. The firm has a market cap of $902.32 million, a P/E ratio of -36.40 and a beta of 0.47.

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.