Solaris Resources (NYSEAMERICAN:SLSR) Reaches New 1-Year High - Should You Buy?

Solaris Resources Inc. (NYSEAMERICAN:SLSR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.45 and last traded at $6.36, with a volume of 128857 shares traded. The stock had previously closed at $6.01.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased their price target on shares of Solaris Resources from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Solaris Resources Stock Up 5.8%

The stock's 50-day moving average is $5.32. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -42.40 and a beta of 0.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 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 acquiring an additional 2,394 shares during the last quarter. Tidal Investments LLC grew its position in Solaris Resources by 5.4% during the second quarter. Tidal Investments LLC now owns 50,200 shares of the company's stock valued at $230,000 after acquiring an additional 2,586 shares during the last quarter. Raymond James Financial Inc. bought a new position in Solaris Resources during the second quarter valued at approximately $38,000. National Bank of Canada FI bought a new position in Solaris Resources during the first quarter valued at approximately $37,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Solaris Resources by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company's stock worth $3,422,000 after purchasing an additional 14,824 shares during the last quarter.

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.

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