Solaris Resources Inc. (NYSEAMERICAN:SLSR) Short Interest Up 104.6% in July

Key Points

• Solaris Resources’ short interest more than doubled in July, rising 104.6% to 888,780 shares as of July 31. Short interest represented 0.5% of shares outstanding, with a days-to-cover ratio of 4.4.
• Several institutional investors increased their positions, including Helikon Investments, which raised its stake by 32.5%, and Arrowstreet Capital, which increased holdings by 69.6%.
• The stock fell 0.5% to $7.72, below its 50-day and 200-day moving averages of $8.15 and $9.15, respectively. Solaris is focused on exploring copper and gold deposits, with its flagship asset being the Warintza copper project in Ecuador.

Solaris Resources Inc. (NYSEAMERICAN:SLSR - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 888,780 shares, an increase of 104.6% from the July 15th total of 434,423 shares. Currently, 0.5% of the company's stock are short sold. Based on an average daily volume of 204,091 shares, the days-to-cover ratio is presently 4.4 days.

Institutional Investors Weigh In On Solaris Resources

Several institutional investors and hedge funds have recently made changes to their positions in SLSR. Janus Henderson Group PLC boosted its stake in Solaris Resources by 38.3% during the 1st quarter. Janus Henderson Group PLC now owns 873,369 shares of the company's stock valued at $7,485,000 after purchasing an additional 241,749 shares during the last quarter. PSquared Asset Management AG increased its holdings in shares of Solaris Resources by 3.1% in the 1st quarter. PSquared Asset Management AG now owns 4,084,315 shares of the company's stock worth $35,262,000 after purchasing an additional 121,300 shares in the last quarter. Amundi raised its stake in shares of Solaris Resources by 34.9% in 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 last quarter. Helikon Investments Ltd raised its stake in shares of Solaris Resources by 32.5% in the fourth quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company's stock worth $71,906,000 after purchasing an additional 2,210,452 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Solaris Resources by 69.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 708,313 shares of the company's stock valued at $6,097,000 after purchasing an additional 290,737 shares in the last quarter.

Solaris Resources Stock Down 0.5%

Solaris Resources stock traded down $0.04 during trading hours on Friday, hitting $7.72. The stock had a trading volume of 71,551 shares, compared to its average volume of 164,776. The stock has a market capitalization of $1.29 billion, a P/E ratio of -42.89 and a beta of 1.29. Solaris Resources has a 12-month low of $4.89 and a 12-month high of $11.48. The stock's 50-day moving average price is $8.15 and its 200-day moving average price is $9.15.

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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