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

Solaris Resources (TSE:SLS) had its price target dropped by research analysts at Eight Capital from C$23.50 to C$15.00 in a report issued on Thursday, BayStreet.CA reports. Eight Capital’s price objective points to a potential upside of 286.60% from the stock’s current price.

Several other analysts have also recently issued reports on SLS. Canaccord Genuity Group upped their target price on Solaris Resources from C$13.50 to C$14.50 in a report on Wednesday, April 17th. TD Securities lowered their price target on shares of Solaris Resources from C$17.00 to C$14.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Finally, BMO Capital Markets dropped their price objective on shares of Solaris Resources from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$13.10.

Solaris Resources Price Performance

TSE SLS traded down C$0.06 during trading hours on Thursday, hitting C$3.88. 179,132 shares of the company’s stock traded hands, compared to its average volume of 200,792. The company has a market capitalization of C$585.22 million, a PE ratio of -10.49 and a beta of 2.00. The company has a debt-to-equity ratio of 228.34, a current ratio of 4.30 and a quick ratio of 1.29. Solaris Resources has a 52-week low of C$3.61 and a 52-week high of C$6.62. The firm’s 50-day moving average is C$4.53 and its 200-day moving average is C$4.34.

Insider Activity at Solaris Resources

In other Solaris Resources news, Senior Officer Jacqueline Wagenaar sold 18,718 shares of the stock in a transaction dated Monday, June 24th. The shares were 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 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.