Solaris Resources (TSE:SLS) Shares Down 2.3% - What's Next?

Key Points

• Solaris Resources Inc. shares fell by 2.3% to C$7.28, with trading volume dropping 24% compared to the average session.
• National Bankshares set a new target price of C$12.50 for Solaris Resources, affirming a consensus rating of "Buy" from analysts.
• The company is advancing projects in copper and gold across the Americas, including significant initiatives in Ecuador, Chile, and Peru, with a market capitalization of C$835.12 million.

Solaris Resources Inc. (TSE:SLS - Get Free Report) shares fell 2.3% during mid-day trading on Wednesday . The company traded as low as C$7.24 and last traded at C$7.28. 201,954 shares were traded during trading, a decline of 24% from the average session volume of 265,815 shares. The stock had previously closed at C$7.45.

Wall Street Analyst Weigh In

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

Solaris Resources Trading Down 3.5%

The company has a debt-to-equity ratio of 712.38, a current ratio of 4.62 and a quick ratio of 1.29. The company has a market cap of C$845.44 million, a price-to-earnings ratio of -12.84 and a beta of 1.90. The business has a 50 day simple moving average of C$6.98 and a 200 day simple moving average of C$5.88.

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.