Solaris Resources (TSE:SLS) Reaches New 1-Year Low at $2.82

Shares of Solaris Resources Inc. (TSE:SLS) reached a new 52-week low on Wednesday . The stock traded as low as C$2.82 and last traded at C$2.97, with a volume of 154146 shares traded. The stock had previously closed at C$2.95.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLS. BMO Capital Markets decreased their target price on Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. TD Securities decreased their price objective on shares of 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. Canaccord Genuity Group boosted their target price on shares of Solaris Resources from C$14.50 to C$16.00 in a research note on Monday, July 22nd. Eight Capital lowered their price target on shares of Solaris Resources from C$23.50 to C$15.00 in a report on Thursday, July 11th. Finally, National Bankshares lifted their price objective on Solaris Resources from C$8.50 to C$9.00 in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Solaris Resources currently has a consensus rating of “Buy” and an average price target of C$13.60.

Solaris Resources Trading Up 1.0 %

The company has a debt-to-equity ratio of 228.34, a quick ratio of 1.29 and a current ratio of 4.30. The firm has a market cap of C$483.48 million, a P/E ratio of -6.60 and a beta of 1.89. The firm has a 50 day simple moving average of C$3.77 and a 200 day simple moving average of C$4.23.

Insider Activity

In related news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$4.02, for a total transaction of C$75,220.15. 43.49% of the stock is owned by company insiders.

About Solaris Resources

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.