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Summary
- Solaris (TSXV:SLS) to start trading on the Toronto Stock Exchange from February 9.
- The metal and mining company is considered a rising star on the TSXV.
- It has some flagship projects in Latin America, such as Ecuador, Chile, and Peru.
Canadian metal and mining company Solaris Resources Inc. will start trading on the Toronto Stock Exchange from February after a brief successful stint at the junior exchange TSXV. While Solaris (TSXV:SLS) is still a junior player in the category, it is considered a rising star in the metal space.
TSX has permitted the company to list its common stocks on February 9, 2021. The news has already created quite a buzz among potential investors.
Pursuant to the TSX debut, its common shares on the TSX Venture Exchange would be delisted.
The company’s trading symbol SLS will remain the same after it graduates to the TSX, and as such, the current shareholders are not required to exchange their share certificates, the company said.
Solaris’ stocks were trading at C$ 6.25 at close on Thursday, up by 3.9 per cent. The mining stocks have seen good gains in the past few months, its stock value jumping by nearly 14 per cent in the last three months.
@Kalkine Image 2021
Exponential Stock Growth
Since its debut on TSXV in July 2020, the stocks grew by more than 322 per cent, and in the past six months, they rose by over 255 per cent. This significant growth, coupled with key projects across Latin America, which has potential for future growth, makes the stock promising in 2021.
Solaris has a current market cap of C$656 million. In the third quarter ending September 30, 2020, it reported a net loss of US$11,706. Its EPS was -0.22 and price-to-earnings ratio was (P/E) ratio -26.90. However, these figures should not be a major concern as the company is still on a growth trajectory.
The basic materials industry holds the potential for a comeback after the disastrous 2020 for most sectors. As the global economy gradually opens-up, the cloud over the mining sector should disappear.
The company has major copper and gold projects such as Warintza, Tamarugo, Capricho, and Ricardo projects in Ecuador, Chile, and Peru.
