Arrowstreet Capital Limited Partnership Grows Stake in Solaris Resources Inc. $SLSR

Key Points

• Arrowstreet Capital increased its Solaris Resources stake by 69.6% in the first quarter, purchasing 290,737 additional shares to own 708,313 shares worth approximately $6.1 million.
• Several other institutions also expanded their positions, including Principal Financial Group, which boosted its holdings by 291.9%, and Helikon Investments, which increased its stake by 32.5%.
• Solaris shares opened at $7.53, below their 50-day and 200-day moving averages, while HC Wainwright raised its price target to $18 and maintained a “Buy” rating; the stock has a consensus “Buy” rating.

Arrowstreet Capital Limited Partnership increased its stake in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 69.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 708,313 shares of the company's stock after purchasing an additional 290,737 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.42% of Solaris Resources worth $6,097,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Helikon Investments Ltd lifted its holdings in Solaris Resources by 32.5% during the fourth quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company's stock valued at $71,906,000 after purchasing an additional 2,210,452 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Solaris Resources by 291.9% in the first quarter. Principal Financial Group Inc. now owns 3,000,000 shares of the company's stock worth $25,818,000 after acquiring an additional 2,234,530 shares during the period. UBS Group AG boosted its holdings in shares of Solaris Resources by 37.7% in the fourth quarter. UBS Group AG now owns 625,086 shares of the company's stock worth $4,982,000 after acquiring an additional 171,004 shares during the period. Man Group plc bought a new position in Solaris Resources in the 3rd quarter worth about $657,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Solaris Resources in the 3rd quarter worth about $206,000.

Solaris Resources Price Performance

NYSEAMERICAN:SLSR opened at $7.53 on Monday. The business's 50-day moving average price is $8.57 and its two-hundred day moving average price is $9.23. Solaris Resources Inc. has a twelve month low of $4.51 and a twelve month high of $11.48. The stock has a market cap of $1.26 billion, a P/E ratio of -41.83 and a beta of 1.30.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on shares of Solaris Resources from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.00.

Solaris Resources Company Profile

Solaris Resources NYSEAMERICAN: SLSR is a Vancouver-based mineral exploration company dedicated to the discovery, acquisition and advancement of large-scale copper and gold deposits across the Americas. Established in 2017, the company focuses on generating high-potential projects in mining-friendly jurisdictions and applying innovative exploration techniques to de-risk assets at an early stage. Solaris leverages a multidisciplinary technical team to identify and systematically evaluate resource targets with district-scale potential.

The company's flagship asset is the Warintza copper project in southeastern Ecuador, where Solaris has assembled a strategic land position in the emerging Andean copper belt.

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