Eight Capital Cuts Solaris Resources (TSE:SLS) Price Target to C$15.00

Solaris Resources (TSE:SLS) had its price target reduced by equities researchers at Eight Capital from C$23.50 to C$15.00 in a research report issued on Thursday, BayStreet.CA reports. Eight Capital’s price objective would suggest a potential upside of 286.60% from the stock’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets dropped their target price on Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Canaccord Genuity Group raised their target price on Solaris Resources from C$13.50 to C$14.50 in a report on Wednesday, April 17th. Finally, TD Securities dropped their target price on Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$13.10.

Solaris Resources Stock Down 1.5 %

Solaris Resources stock traded down C$0.06 during mid-day trading on Thursday, reaching C$3.88. The stock had a trading volume of 179,132 shares, compared to its average volume of 200,792. The company has a debt-to-equity ratio of 228.34, a quick ratio of 1.29 and a current ratio of 4.30. Solaris Resources has a fifty-two week low of C$3.61 and a fifty-two week high of C$6.62. The stock’s 50-day simple moving average is C$4.53 and its 200-day simple moving average is C$4.34. The firm has a market capitalization of C$585.22 million, a PE ratio of -10.49 and a beta of 2.00.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of Solaris Resources stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$4.02, for a total transaction of C$75,220.15. 46.74% 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.