Solaris Resources (TSE:SLS) Shares Up 2.9% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Solaris Resources from C$14.50 to C$16.00 in a research report on Monday, July 22nd. Eight Capital dropped their target price on Solaris Resources from C$23.50 to C$15.00 in a report on Thursday, July 11th. National Bankshares increased their target price on Solaris Resources from C$8.50 to C$9.00 in a report on Monday, July 22nd. Finally, TD Securities dropped their target price 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Solaris Resources presently has a consensus rating of “Buy” and an average price target of C$13.60.

Solaris Resources Stock Performance

The company has a current ratio of 5.37, a quick ratio of 1.29 and a debt-to-equity ratio of 93.10. The firm has a fifty day simple moving average of C$3.17 and a two-hundred day simple moving average of C$4.00. The firm has a market cap of C$524.04 million, a PE ratio of -7.18 and a beta of 1.90.

Solaris Resources Company Profile

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.