Solaris Resources (TSE:SLS) Sets New 12-Month High – Should You Buy?

Solaris Resources Inc. (TSE:SLS)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$11.48 and last traded at C$11.24, with a volume of 438571 shares traded. The stock had previously closed at C$11.14.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLS shares. National Bankshares upped their target price on shares of Solaris Resources from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Royal Bank Of Canada boosted their price target on Solaris Resources from C$12.00 to C$18.00 in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Solaris Resources presently has an average rating of “Buy” and a consensus price target of C$19.00.

Solaris Resources Trading Down 2.5%

The company has a debt-to-equity ratio of 712.38, a current ratio of 4.62 and a quick ratio of 1.29. The business’s 50-day moving average is C$10.41 and its two-hundred day moving average is C$8.52. The firm has a market cap of C$1.85 billion, a P/E ratio of -30.83 and a beta of 1.67.

About Solaris Resources

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.