Solaris Resources (TSE:SLS) Shares Up 6.9%

Solaris Resources Inc. (TSE:SLS)’s stock price rose 6.9% during trading on Thursday . The company traded as high as C$3.43 and last traded at C$3.43. Approximately 41,003 shares traded hands during trading, a decline of 82% from the average daily volume of 222,660 shares. The stock had previously closed at C$3.21.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLS. TD Securities cut their price target on Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating for the company in a report on Thursday, June 20th. National Bankshares upped their target price on shares of Solaris Resources from C$8.50 to C$9.00 in a report on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Eight Capital reduced their price objective on shares of Solaris Resources from C$23.50 to C$15.00 in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group lifted their target price on shares of Solaris Resources from C$14.50 to C$16.00 in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Solaris Resources has an average rating of “Buy” and an average target price of C$13.60.

Solaris Resources Stock Performance

The company’s fifty day moving average price is C$3.19 and its two-hundred day moving average price is C$4.08. The company has a debt-to-equity ratio of 93.10, a quick ratio of 1.29 and a current ratio of 5.37. The firm has a market capitalization of C$567.84 million, a PE ratio of -7.78 and a beta of 1.89.

Insiders Place Their Bets

In other news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$4.02, for a total transaction of C$75,220.15. 43.49% of the stock is currently owned by insiders.

About Solaris Resources

Solaris Resources Inc engages in exploration of mineral properties. It focuses on exploring copper, molybdenum, gold, lead, zinc, and silver. The company's flagship project is the 100% owned Warintza Copper and Gold Project comprising nine metallic mineral concessions, which covers an area of 268 km2 located in Ecuador.