Solaris Resources (TSE:SLS) Shares Up 9.7% - Here's Why

Solaris Resources Inc. (TSE:SLS - Get Free Report) was up 9.7% during mid-day trading on Wednesday . The stock traded as high as C$5.56 and last traded at C$5.44. Approximately 569,372 shares were traded during mid-day trading, an increase of 97% from the average daily volume of 288,354 shares. The stock had previously closed at C$4.96.

Wall Street Analyst Weigh In

Separately, National Bankshares boosted their price target on Solaris Resources from C$10.00 to C$10.50 and gave the company an "outperform" rating in a report on Wednesday, April 2nd.

Solaris Resources Stock Up 5.7 %

The firm's 50-day moving average price is C$4.77 and its two-hundred day moving average price is C$4.46. The firm has a market cap of C$699.76 million, a PE ratio of -10.63 and a beta of 1.90. The company has a debt-to-equity ratio of 712.38, a quick ratio of 1.29 and a current ratio of 4.62.

About Solaris Resources

Solaris Resources Inc is advancing a portfolio of copper and gold assets in the Americas, which includes a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130M spending 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and leverage to increasing copper prices through the 60% interest in the development-stage La Verde joint-venture project with Teck Resources in Mexico.