Short Interest in Solaris Resources Inc. (NYSEAMERICAN:SLSR) Decreases By 39.9%

Key Points

• Short interest in Solaris fell by 39.9% to 442,151 shares as of April 15, cutting the days-to-cover to 4.9 and leaving about 0.3% of the stock shorted.
• Several institutions increased or opened positions—Mackenzie Financial holds 716,802 shares, Toronto Dominion added 30,000 shares (a 60% increase), and Quadrature Capital took a new stake—indicating rising institutional interest.
• HC Wainwright bumped its target to $18 with a "buy" rating (the consensus target is $18), while the stock recently traded at $10.60 (+0.8%) within a 12‑month range of $3.68–$11.43.

Solaris Resources Inc. (NYSEAMERICAN:SLSR - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 442,151 shares, a decline of 39.9% from the March 31st total of 735,085 shares. Based on an average daily volume of 90,488 shares, the days-to-cover ratio is currently 4.9 days. Currently, 0.3% of the company's stock are short sold.

Hedge Funds Weigh In On Solaris Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pictet Asset Management Holding SA grew its holdings in shares of Solaris Resources by 6.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 21,975 shares of the company's stock valued at $189,000 after acquiring an additional 1,293 shares in the last quarter. Cardinal Point Capital Management ULC grew its holdings in shares of Solaris Resources by 1.9% during the 1st quarter. Cardinal Point Capital Management ULC now owns 54,500 shares of the company's stock valued at $470,000 after acquiring an additional 1,000 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Solaris Resources by 3.7% during the 4th quarter. Mackenzie Financial Corp now owns 716,802 shares of the company's stock valued at $5,756,000 after acquiring an additional 25,439 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Solaris Resources by 60.0% during the 4th quarter. Toronto Dominion Bank now owns 80,000 shares of the company's stock valued at $641,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Solaris Resources during the 4th quarter valued at $133,000.

Analyst Ratings Changes

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

Solaris Resources Trading Up 0.8%

Shares of Solaris Resources stock traded up $0.08 on Monday, hitting $10.60. 172,867 shares of the company traded hands, compared to its average volume of 100,521. The company has a 50-day moving average price of $9.38 and a 200 day moving average price of $8.38. Solaris Resources has a 12-month low of $3.68 and a 12-month high of $11.43.

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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