Solaris Resources (NYSEAMERICAN:SLSR) Shares Gap Up – Time to Buy?

Shares of Solaris Resources Inc. (NYSEAMERICAN:SLSR) gapped up before the market opened on Friday . The stock had previously closed at $6.95, but opened at $7.38. Solaris Resources shares last traded at $7.2880, with a volume of 1,833 shares.

Solaris Resources Price Performance

The company has a market cap of $1.22 billion, a price-to-earnings ratio of -40.58 and a beta of 1.33. The stock has a 50-day moving average price of $7.93 and a 200 day moving average price of $8.84.

Institutional Trading of Solaris Resources

Several hedge funds have recently bought and sold shares of SLSR. Principal Financial Group Inc. lifted its holdings in shares of Solaris Resources by 291.9% in the first quarter. Principal Financial Group Inc. now owns 3,000,000 shares of the company’s stock valued at $25,818,000 after purchasing an additional 2,234,530 shares in the last quarter. Amundi grew its holdings in shares of Solaris Resources by 34.9% during the first quarter. Amundi now owns 1,217,493 shares of the company’s stock worth $10,446,000 after buying an additional 314,693 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Solaris Resources by 69.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 708,313 shares of the company’s stock valued at $6,097,000 after buying an additional 290,737 shares during the last quarter. Royal Bank of Canada raised its position in Solaris Resources by 742.1% in the 1st quarter. Royal Bank of Canada now owns 277,695 shares of the company’s stock valued at $2,383,000 after buying an additional 244,720 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Solaris Resources by 38.3% in the 1st quarter. Janus Henderson Group PLC now owns 873,369 shares of the company’s stock valued at $7,485,000 after acquiring an additional 241,749 shares in the last quarter.

Solaris Resources Company Profile

Solaris Resources Inc is a mineral exploration and development company focused on discovering and advancing copper and gold deposits in the Americas. The company’s primary focus is the Warintza Project in southeastern Ecuador, a large-scale porphyry copper-gold exploration project located in the Cordillera del Cóndor.

Solaris is conducting exploration, drilling and technical studies at Warintza to evaluate its resource potential and advance the project toward future development. The company also holds the Ricardo Project in northern Chile, an exploration property prospective for copper and other mineralization.

Solaris Resources is headquartered in Canada and its activities are concentrated in Ecuador and Chile.