Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Up - Time to Buy?

Key Points

• Shares of Solaris Resources (SLSR) gapped up premarket, opening at $9.48 after a $9.02 close and last trading around $9.73, trading near its 50‑day MA ($9.28) with a market cap of about $1.64 billion.
• HC Wainwright raised its price target on SLSR from $13.50 to $16.00 and issued a "buy" rating; MarketBeat shows a consensus Buy and an average price target of $16.00.
• Several institutional investors (Mackenzie, TD, Millennium, Quadrature, Public Employees Retirement System of Ohio) increased or initiated positions in Q4, and Solaris's flagship asset is the Warintza copper project in southeastern Ecuador.

Solaris Resources Inc. (NYSEAMERICAN:SLSR - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.02, but opened at $9.48. Solaris Resources shares last traded at $9.7290, with a volume of 1,195 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright upped their target price on shares of Solaris Resources from $13.50 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $16.00.

Solaris Resources Price Performance

The company's 50-day moving average price is $9.28 and its 200-day moving average price is $8.01. The company has a market cap of $1.64 billion, a P/E ratio of -39.30 and a beta of 1.03.

Institutional Investors Weigh In On Solaris Resources

Several large investors have recently made changes to their positions in SLSR. Mackenzie Financial Corp boosted its holdings in Solaris Resources by 3.7% during the fourth quarter. Mackenzie Financial Corp now owns 716,802 shares of the company's stock worth $5,756,000 after purchasing an additional 25,439 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Solaris Resources by 60.0% during the fourth quarter. Toronto Dominion Bank now owns 80,000 shares of the company's stock worth $641,000 after purchasing an additional 30,000 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Solaris Resources during the fourth quarter worth $133,000. Millennium Management LLC boosted its holdings in Solaris Resources by 230.1% during the fourth quarter. Millennium Management LLC now owns 258,397 shares of the company's stock worth $2,071,000 after purchasing an additional 180,130 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Solaris Resources by 21.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 23,313 shares of the company's stock worth $187,000 after purchasing an additional 4,119 shares during the last quarter.

About Solaris Resources

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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