Solaris Resources (NYSEAMERICAN:SLSR) Trading Down 5.4% – Here’s What Happened

Solaris Resources Inc. (NYSEAMERICAN:SLSR) shares were down 5.4% during mid-day trading on Tuesday . The company traded as low as $8.11 and last traded at $8.16. 66,499 shares were traded during mid-day trading, a decline of 57% from the average session volume of 153,849 shares. The stock had previously closed at $8.63.

Solaris Resources Stock Performance

The company has a market capitalization of $1.37 billion, a P/E ratio of -45.55 and a beta of 1.30. The company has a 50-day simple moving average of $8.01 and a 200 day simple moving average of $9.02.

Hedge Funds Weigh In On Solaris Resources

A number of institutional investors and hedge funds have recently bought and sold shares of SLSR. Janus Henderson Group PLC increased its holdings in shares of Solaris Resources by 38.3% during the 1st quarter. Janus Henderson Group PLC now owns 873,369 shares of the company’s stock worth $7,485,000 after purchasing an additional 241,749 shares during the period. PSquared Asset Management AG lifted its stake in shares of Solaris Resources by 3.1% in the first quarter. PSquared Asset Management AG now owns 4,084,315 shares of the company’s stock valued at $35,262,000 after buying an additional 121,300 shares during the period. Amundi grew its position in 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. Helikon Investments Ltd increased its stake in Solaris Resources by 32.5% during the fourth quarter. Helikon Investments Ltd now owns 9,022,072 shares of the company’s stock valued at $71,906,000 after acquiring an additional 2,210,452 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Solaris Resources by 69.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 708,313 shares of the company’s stock valued at $6,097,000 after acquiring an additional 290,737 shares during the period.

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.