Solaris Resources (TSE:SLS) Given New C$13.50 Price Target at National Bankshares

Key Points

• National Bankshares has raised its price target for Solaris Resources from C$12.50 to C$13.50, citing a potential upside of 62.06% from the current stock price.
• As of mid-day trading on Wednesday, shares of Solaris Resources increased to C$8.33, with a significant trading volume of 354,695 shares.
• Solaris Resources is advancing several copper and gold projects across the Americas, including the high-grade Warintza project in Ecuador and the La Verde joint-venture in Mexico.

Solaris Resources (TSE:SLS - Get Free Report) had its price objective upped by research analysts at National Bankshares from C$12.50 to C$13.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price objective suggests a potential upside of 62.06% from the stock's current price.

Solaris Resources Price Performance

Shares of TSE SLS traded up C$0.70 during mid-day trading on Wednesday, reaching C$8.33. 354,695 shares of the company were exchanged, compared to its average volume of 280,495. Solaris Resources has a 52 week low of C$3.00 and a 52 week high of C$8.37. The company's 50 day moving average price is C$7.21 and its 200 day moving average price is C$6.19. The stock has a market capitalization of C$1.38 billion, a PE ratio of -20.32 and a beta of 1.82. The company has a quick ratio of 1.29, a current ratio of 4.62 and a debt-to-equity ratio of 712.38.

Solaris Resources Company Profile

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.

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