Solaris Resources Inc. (NYSEAMERICAN:SLSR) Sees Large Drop in Short Interest

Solaris Resources Inc. (NYSEAMERICAN:SLSR) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 430,138 shares, a decline of 21.3% from the December 15th total of 546,809 shares. Based on an average trading volume of 128,710 shares, the days-to-cover ratio is currently 3.3 days. Approximately 0.3% of the shares of the company are short sold. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 128,710 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of Solaris Resources

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Solaris Resources by 1.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,009,441 shares of the company’s stock worth $3,422,000 after purchasing an additional 14,824 shares during the last quarter. TD Asset Management Inc acquired a new stake in Solaris Resources in the 2nd quarter worth about $519,000. Helikon Investments Ltd increased its stake in Solaris Resources by 453.8% during the 2nd quarter. Helikon Investments Ltd now owns 4,811,620 shares of the company’s stock worth $22,037,000 after buying an additional 3,942,810 shares in the last quarter. NewGen Equity Long Short Fund acquired a new position in shares of Solaris Resources during the second quarter valued at approximately $6,869,000. Finally, Mackenzie Financial Corp lifted its position in shares of Solaris Resources by 7.4% in the second quarter. Mackenzie Financial Corp now owns 692,357 shares of the company’s stock valued at $3,175,000 after acquiring an additional 47,831 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price objective on shares of Solaris Resources from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Solaris Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Solaris Resources Stock Performance

Shares of NYSEAMERICAN:SLSR traded down $0.20 during midday trading on Friday, reaching $8.81. 164,264 shares of the company’s stock traded hands, compared to its average volume of 128,145. The company has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $6.33. Solaris Resources has a 1 year low of $2.50 and a 1 year high of $9.42. The company has a market cap of $1.47 billion, a P/E ratio of -25.17 and a beta of 0.50.

Solaris Resources Company Profile

Solaris Resources (NYSEAMERICAN: SLSR) is a Vancouver-based mineral exploration company dedicated to the discovery, acquisition and advancement of large-scale copper and gold deposits across the Americas. Established in 2017, the company focuses on generating high-potential projects in mining-friendly jurisdictions and applying innovative exploration techniques to de-risk assets at an early stage. Solaris leverages a multidisciplinary technical team to identify and systematically evaluate resource targets with district-scale potential.

The company’s flagship asset is the Warintza copper project in southeastern Ecuador, where Solaris has assembled a strategic land position in the emerging Andean copper belt.