Solaris Resources (NYSEAMERICAN:SLSR) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised its price target on Solaris from $16 to $18 and kept a "buy" rating, implying about an 83% upside from the prior close.
• Several institutional investors have recently added or enlarged positions—including MIRAE, Helikon, JPMorgan, Bank of America and Two Sigma—indicating notable hedge fund and bank interest in the stock.
• Solaris is a Vancouver-based copper and gold explorer whose flagship asset is the Warintza copper project in Ecuador; its shares trade near $9.81 with a market cap of about $1.64 billion and a 52-week range of $2.79–$11.43.

Solaris Resources (NYSEAMERICAN:SLSR - Get Free Report) had its price objective raised by analysts at HC Wainwright from $16.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 83.49% from the company's previous close.

Solaris Resources Stock Performance

NYSEAMERICAN:SLSR opened at $9.81 on Monday. The stock's 50 day moving average price is $9.29 and its 200 day moving average price is $8.07. Solaris Resources has a 52 week low of $2.79 and a 52 week high of $11.43. The company has a market capitalization of $1.64 billion, a P/E ratio of -39.24 and a beta of 1.03.

Hedge Funds Weigh In On Solaris Resources

A number of hedge funds have recently added to or reduced their stakes in SLSR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Solaris Resources in the third quarter worth approximately $15,017,000. Helikon Investments Ltd boosted its position in Solaris Resources by 32.5% during 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 period. JPMorgan Chase & Co. bought a new stake in Solaris Resources during the third quarter worth approximately $9,012,000. Bank of America Corp DE boosted its position in Solaris Resources by 316.3% during the third quarter. Bank of America Corp DE now owns 1,078,837 shares of the company's stock worth $6,872,000 after purchasing an additional 819,692 shares during the period. Finally, Two Sigma Investments LP boosted its position in Solaris Resources by 3,213.0% during the third quarter. Two Sigma Investments LP now owns 600,114 shares of the company's stock worth $3,823,000 after purchasing an additional 582,000 shares during the period.

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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