Solaris Resources (TSE:SLS) Stock Price Up 0.6% – What’s Next?

Solaris Resources Inc. (TSE:SLS) shares rose 0.6% during mid-day trading on Tuesday . The company traded as high as C$3.44 and last traded at C$3.34. Approximately 311,473 shares traded hands during mid-day trading, an increase of 43% from the average daily volume of 217,849 shares. The stock had previously closed at C$3.32.

Analysts Set New Price Targets

SLS has been the subject of a number of recent research reports. Eight Capital cut their target price on Solaris Resources from C$23.50 to C$15.00 in a research note on Thursday, July 11th. National Bankshares cut their target price on Solaris Resources from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Canaccord Genuity Group raised their target price on Solaris Resources from C$14.50 to C$16.00 in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$13.50.

Solaris Resources Stock Up 8.3 %

The business has a 50-day moving average of C$3.21 and a 200-day moving average of C$3.79. 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 stock has a market capitalization of C$553.24 million, a price-to-earnings ratio of -7.58 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.