Northwest & Ethical Investments L.P. Raises Stock Position in Solaris Resources Inc. $SLSR

Key Points

• Northwest & Ethical Investments L.P. increased its investment in Solaris Resources Inc. by 221.1% in the 1st quarter, obtaining a total of 116,174 shares valued at approximately $391,000.
• Several institutional investors also acquired or raised their stakes in Solaris Resources, with NewGen Asset Management Ltd. doubling its holdings to 1,200,000 shares valued at $4,068,000.
• Analysts have updated Solaris Resources' price target to $11.00 with a consensus rating of "Moderate Buy," indicating market confidence in the stock's future performance.

Northwest & Ethical Investments L.P. lifted its stake in Solaris Resources Inc. (NYSEAMERICAN:SLSR - Free Report) by 221.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,174 shares of the company's stock after acquiring an additional 79,995 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Solaris Resources were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp grew its position in Solaris Resources by 0.4% during 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 during the period. National Bank of Canada FI purchased a new position in Solaris Resources during the first quarter valued at approximately $37,000. Jennison Associates LLC lifted its holdings in Solaris Resources by 5.6% during the first quarter. Jennison Associates LLC now owns 1,094,669 shares of the company's stock valued at $3,683,000 after purchasing an additional 58,329 shares in the last quarter. NewGen Asset Management Ltd lifted its holdings in Solaris Resources by 100.0% during the first quarter. NewGen Asset Management Ltd now owns 1,200,000 shares of the company's stock valued at $4,068,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Helikon Investments Ltd purchased a new position in Solaris Resources during the first quarter valued at approximately $2,945,000.

Solaris Resources Stock Performance

Shares of NYSEAMERICAN:SLSR traded up $0.05 during trading on Monday, hitting $5.53. 21,935 shares of the stock traded hands, compared to its average volume of 34,507. The stock has a market capitalization of $913.89 million, a P/E ratio of -36.86 and a beta of 0.46. The business's fifty day simple moving average is $5.06. Solaris Resources Inc. has a 52-week low of $1.90 and a 52-week high of $5.88.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their target price on shares of Solaris Resources from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.00.

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.