Solaris Resources (TSE:SLS) Shares Down 2.3% - Here's What Happened

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 trading on Wednesday . The company traded as low as C$7.24 and last traded at C$7.28. 201,954 shares changed hands during trading, a decline of 24% from the average session volume of 265,815 shares. The stock had previously closed at C$7.45.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$12.50.

Solaris Resources Price Performance

The stock has a market cap of C$868.39 million, a price-to-earnings ratio of -13.19 and a beta of 1.90. The company has a 50-day moving average of C$6.92 and a 200-day moving average of C$5.85. The company has a debt-to-equity ratio of 712.38, a quick ratio of 1.29 and a current ratio of 4.62.

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.