Solaris Resources (TSE:SLS) Hits New 52-Week High - Here's Why

Key Points

• Solaris Resources Inc. achieved a new 52-week high at C$8.20 during trading, closing at C$8.05, indicating significant market interest.
• National Bankshares has set a target price of C$12.50 for Solaris Resources, reflecting an "outperform" rating and a consensus view of the stock as a Buy.
• The company holds valuable copper and gold assets across the Americas, including projects in Ecuador, Chile, and Peru, with potential for future expansion and discovery.

Solaris Resources Inc. (TSE:SLS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$8.20 and last traded at C$8.05, with a volume of 59772 shares. The stock had previously closed at C$7.63.

Analyst Upgrades and Downgrades

Separately, National Bankshares set a C$12.50 target price on Solaris Resources and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Solaris Resources presently has an average rating of "Buy" and a consensus price target of C$12.50.

Solaris Resources Stock Up 7.5%

The company has a quick ratio of 1.29, a current ratio of 4.62 and a debt-to-equity ratio of 712.38. The stock has a 50 day simple moving average of C$7.21 and a 200 day simple moving average of C$6.19. The stock has a market cap of C$1.36 billion, a price-to-earnings ratio of -20.00 and a beta of 1.82.

About Solaris Resources

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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