Helikon Investments Ltd Buys Shares of 868,810 Solaris Resources Inc. (NYSEAMERICAN:SLSR)

Key Points

• Helikon Investments Ltd has invested approximately $2.95 million in Solaris Resources Inc., acquiring 868,810 shares, marking it as their 20th largest position in the portfolio.
• Other investors, such as NewGen Asset Management and Jennison Associates, have also increased their stakes in Solaris Resources in the first quarter, indicating increasing institutional interest in the company.
• Analyst firm HC Wainwright raised Solaris Resources’ target price from $10.00 to $11.00 and assigned it a "buy" rating, reflecting confidence in the company's performance.

Helikon Investments Ltd purchased a new position in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 868,810 shares of the company's stock, valued at approximately $2,945,000. Solaris Resources comprises approximately 0.2% of Helikon Investments Ltd's investment portfolio, making the stock its 20th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in shares of Solaris Resources during the first quarter worth $37,000. Mackenzie Financial Corp lifted its position in shares of Solaris Resources by 0.4% during the 1st 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 in the last quarter. Jennison Associates LLC raised its position in shares of Solaris Resources by 5.6% during the 1st 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 during the last quarter. Finally, NewGen Asset Management Ltd lifted its position in shares of Solaris Resources by 100.0% in the first quarter. NewGen Asset Management Ltd now owns 1,200,000 shares of the company's stock valued at $4,068,000 after acquiring an additional 600,000 shares in the last quarter.

Solaris Resources Stock Performance

NYSEAMERICAN:SLSR traded down $0.10 during trading hours on Tuesday, reaching $5.23. 53,631 shares of the company traded hands, compared to its average volume of 55,259. The stock has a market capitalization of $864.31 million, a PE ratio of -20.92 and a beta of 0.46. The firm's 50-day simple moving average is $4.88. Solaris Resources Inc. has a 1-year low of $1.90 and a 1-year high of $5.88.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their target price on shares of Solaris Resources from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, May 6th.

Solaris Resources 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.