Solaris Resources (TSE:SLS) Stock Price Up 2.9% – Should You Buy?

Solaris Resources Inc. (TSE:SLS) shares were up 2.9% on Thursday . The stock traded as high as C$3.25 and last traded at C$3.23. Approximately 124,547 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 219,943 shares. The stock had previously closed at C$3.14.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. National Bankshares upped their price target on shares of Solaris Resources from C$8.50 to C$9.00 in a research note on Monday, July 22nd. TD Securities decreased their target price on shares of Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Canaccord Genuity Group lifted their price target on Solaris Resources from C$14.50 to C$16.00 in a research report on Monday, July 22nd. Finally, Eight Capital decreased their price objective on Solaris Resources from C$23.50 to C$15.00 in a research report on Thursday, July 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$13.60.

Solaris Resources Price Performance

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 fifty day simple moving average of C$3.17 and a 200 day simple moving average of C$4.00. The company has a market capitalization of C$524.04 million, a PE ratio of -7.18 and a beta of 1.90.

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.