Solaris Resources (TSE:SLS) Hits New 12-Month Low at $2.82

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

Analyst Upgrades and Downgrades

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

Solaris Resources Stock Performance

The firm’s 50 day simple moving average is C$3.71 and its 200-day simple moving average is C$4.21. The company has a market capitalization of C$502.94 million, a price-to-earnings ratio of -6.89 and a beta of 1.89. The company has a debt-to-equity ratio of 228.34, a quick ratio of 1.29 and a current ratio of 4.30.

Insider Activity

In other news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$4.02, for a total value of C$75,220.15. 43.49% of the stock is currently owned by corporate insiders.

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.