Janus Henderson Group PLC Has $7.49 Million Stock Position in Solaris Resources Inc. $SLSR

Key Points

• Janus Henderson increased its Solaris Resources position by 38.3% in the first quarter, holding 873,369 shares valued at approximately $7.49 million, or 0.52% of the company.
• Several other institutional investors also expanded their holdings, including Principal Financial Group, which increased its stake by 291.9%, and Arrowstreet Capital, which raised its position by 69.6%.
• Solaris shares opened at $8.00, below their 50-day and 200-day moving averages, while analysts maintained a Buy consensus and an $18.00 price target after HC Wainwright raised its target from $16.00.

Janus Henderson Group PLC grew its position in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 873,369 shares of the company's stock after purchasing an additional 241,749 shares during the period. Janus Henderson Group PLC owned about 0.52% of Solaris Resources worth $7,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PSquared Asset Management AG increased its position in Solaris Resources by 3.1% during the first quarter. PSquared Asset Management AG now owns 4,084,315 shares of the company's stock worth $35,262,000 after buying an additional 121,300 shares during the last quarter. Helikon Investments Ltd increased its holdings in shares of Solaris Resources by 32.5% during the 4th quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company's stock valued at $71,906,000 after acquiring an additional 2,210,452 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Solaris Resources by 69.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 708,313 shares of the company's stock valued at $6,097,000 after acquiring an additional 290,737 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Solaris Resources by 291.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,000,000 shares of the company's stock worth $25,818,000 after purchasing an additional 2,234,530 shares during the last quarter. Finally, Amundi boosted its position in Solaris Resources by 34.9% during the first quarter. Amundi now owns 1,217,493 shares of the company's stock worth $10,446,000 after purchasing an additional 314,693 shares during the period.

Solaris Resources Trading Down 0.7%

SLSR opened at $8.00 on Thursday. The business has a 50 day moving average of $8.46 and a 200-day moving average of $9.21. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -44.44 and a beta of 1.29. Solaris Resources Inc. has a 1-year low of $4.89 and a 1-year high of $11.48.

Analysts Set New Price Targets

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