Anson Funds Management LP Sells 753,154 Shares of 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 reduced its stake in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 79.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. PSquared Asset Management AG acquired a new position in Solaris Resources in the 1st quarter valued at $15,297,000. Helikon Investments Ltd bought a new position in Solaris Resources in the 1st quarter valued at about $2,945,000. NewGen Asset Management Ltd increased its holdings in Solaris Resources by 100.0% in the 1st quarter. NewGen Asset Management Ltd now owns 1,200,000 shares of the company's stock valued at $4,068,000 after buying an additional 600,000 shares during the period. Amundi lifted its holdings in shares of Solaris Resources by 100.3% during 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. Finally, Northwest & Ethical Investments L.P. raised its position in Solaris Resources by 221.1% during the first quarter. Northwest & Ethical Investments L.P. now owns 116,174 shares of the company's stock valued at $391,000 after purchasing an additional 79,995 shares in the last quarter.

Wall Street Analyst Weigh In

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

Solaris Resources Price Performance

Shares of Solaris Resources stock opened at $5.26 on Thursday. The business has a 50-day moving average price of $5.24. The stock has a market capitalization of $869.27 million, a PE ratio of -35.06 and a beta of 0.47. Solaris Resources Inc. has a 52-week low of $2.00 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.

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