Solaris Resources (TSE:SLS) Stock Price Down 1.1% - Here's Why

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.

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

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 report on Tuesday, June 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$12.50.

Solaris Resources Price Performance

The company has a market cap of C$1.20 billion, a price-to-earnings ratio of -17.59 and a beta of 1.82. The company has a fifty day moving average price of C$7.23 and a two-hundred day moving average price of C$6.03. The company has a current ratio of 4.62, a quick ratio of 1.29 and a debt-to-equity ratio of 712.38.

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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