Solaris Resources (NYSEAMERICAN:SLSR) Sees Large Volume Increase - Time to Buy?

Key Points

• Solaris Resources experienced a 7% decrease in trading volume, with 52,232 shares traded, while the stock price recently increased to $6.41.
• HC Wainwright raised its target price for Solaris Resources from $11.00 to $13.00, giving it a "buy" rating, reflecting a positive outlook from analysts.
• Several institutional investors, including Helikon Investments and PSquared Asset Management, have increased their stakes in Solaris Resources significantly in the first quarter.

Solaris Resources Inc. (NYSEAMERICAN:SLSR - Get Free Report) saw an uptick in trading volume on Thursday . 52,232 shares traded hands during mid-day trading, a decline of 7% from the previous session's volume of 55,956 shares.The stock last traded at $6.41 and had previously closed at $6.40.

Analysts Set New Price Targets

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

Solaris Resources Stock Up 1.0%

The business's 50 day simple moving average is $5.37. The stock has a market capitalization of $1.07 billion, a PE ratio of -43.10 and a beta of 0.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Helikon Investments Ltd acquired a new position in Solaris Resources during the first quarter worth $2,945,000. Sprott Inc. raised its stake in Solaris Resources by 2.0% during the first quarter. Sprott Inc. now owns 2,782,579 shares of the company's stock worth $9,430,000 after purchasing an additional 54,952 shares during the period. PSquared Asset Management AG purchased a new position in Solaris Resources during the first quarter worth about $15,297,000. Amundi boosted its holdings in Solaris Resources by 100.3% in the 1st quarter. Amundi now owns 848,130 shares of the company's stock valued at $2,765,000 after purchasing an additional 424,802 shares during the last quarter. Finally, Anson Funds Management LP grew its stake in shares of Solaris Resources by 21.0% in the 1st quarter. Anson Funds Management LP now owns 1,153,154 shares of the company's stock valued at $3,628,000 after buying an additional 200,000 shares during the period.

About Solaris Resources

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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