Solaris Resources (TSE:SLS) Trading 17.5% Higher – Still a Buy?

Shares of Solaris Resources Inc. (TSE:SLS) traded up 17.5% on Wednesday . The company traded as high as C$3.97 and last traded at C$3.97. 61,700 shares were traded during trading, a decline of 72% from the average session volume of 218,355 shares. The stock had previously closed at C$3.38.

Wall Street Analyst Weigh In

Separately, National Bankshares dropped their target price on Solaris Resources from C$9.00 to C$8.50 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$13.50.

Solaris Resources Price Performance

The firm has a market capitalization of C$686.28 million, a price-to-earnings ratio of -9.40 and a beta of 1.90. The stock has a 50 day moving average price of C$3.32 and a two-hundred day moving average price of C$3.68. The company has a debt-to-equity ratio of 93.10, a current ratio of 5.37 and a quick ratio of 1.29.

Solaris Resources Company Profile

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.