Helikon Investments Ltd Invests $2.95 Million in 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 acquired a new stake in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 868,810 shares of the company's stock, valued at approximately $2,945,000. Solaris Resources makes up about 0.2% of Helikon Investments Ltd's portfolio, making the stock its 20th largest holding.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI acquired a new stake in Solaris Resources in the first quarter valued at $37,000. Mackenzie Financial Corp raised its stake in Solaris Resources by 0.4% in the first 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 stake in Solaris Resources by 5.6% in the first quarter. Jennison Associates LLC now owns 1,094,669 shares of the company's stock valued at $3,683,000 after buying an additional 58,329 shares in the last quarter. Finally, NewGen Asset Management Ltd raised its stake in 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 buying an additional 600,000 shares in the last quarter.

Solaris Resources Price Performance

Shares of Solaris Resources stock traded up $0.22 during trading on Wednesday, hitting $5.45. 41,060 shares of the company were exchanged, compared to its average volume of 55,132. Solaris Resources Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $5.88. The stock has a market cap of $900.67 million, a PE ratio of -21.80 and a beta of 0.46. The stock has a 50 day moving average of $4.89.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price objective on Solaris Resources from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th.

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.