Solaris Resources (TSE:SLS) Shares Down 1.1% - Time to Sell?

Key Points

• Solaris Resources Inc. shares decreased by 1.1% to C$7.21, with trading volume down 41% from average levels.
• National Bankshares has set a target price of C$12.50 for the stock, maintaining an "outperform" rating and reflecting a consensus average "Buy" rating.
• Solaris Resources boasts a market cap of C$1.20 billion and a robust project portfolio focused on copper and gold assets across the Americas.

Solaris Resources Inc. (TSE:SLS - Get Free Report)'s share price fell 1.1% on Thursday . The company traded as low as C$7.19 and last traded at C$7.21. 163,182 shares changed hands during trading, a decline of 41% from the average session volume of 278,194 shares. The stock had previously closed at C$7.29.

Wall Street Analyst Weigh In

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

Solaris Resources Stock Down 5.1%

The business's 50 day moving average is C$7.21 and its 200-day moving average is C$6.11. The company has a debt-to-equity ratio of 712.38, a quick ratio of 1.29 and a current ratio of 4.62. The firm has a market capitalization of C$1.16 billion, a price-to-earnings ratio of -17.07 and a beta of 1.82.

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.