Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.00, read 2026-11-03
Ethical screen not yet scored
Price6.92 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown7.45-7.1% to today ✓Accumulation gives way to Markdown after a 16% slide in 3 weeks
2026-09-13Read Accumulation8.91-22.3% to today Distribution gives way to Accumulation after a 12% rise in 4 weeks
2026-08-13Read Distribution7.96-13.1% to today ✓Markdown gives way to Distribution after a 15% slide in 6 weeks
2026-07-02Read Markdown9.38-26.2% to today ✓First review on file: Markdown with results news in the headlines
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Solaris Resources Inc. holds its Markdown at $6.92. Elevated stress, defensive posture warranted, held for 1 days.
As held on the ledger · 2026-11-03
Phase
Markdown · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 1 days
Price at the screen
$6.92
Valuation
N/A trailing · -24.21 forward price to earnings
Values screen
Not scored· score 70.0
Beta
2.30
The Workings
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.82%
Below 33%
Interest-bearing debt is just 0.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
43.51%
Below 49%
Money owed to the company is 43.5% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
The Read, in Plain English
Solaris Resources clears the business-activity screen and the figures we can measure look clean, but its income-purity figure is still pending, so the verdict is not final yet.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Only one analyst covers it, too few to cross-check it; our model's value is 2.67x the price, above our 1.35x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Mining exploration bets rarely survive the cycle
Picture a junior miner chasing copper and gold in Ecuador's remote hills. Every drill hole costs money long before any ore moves, and Solaris Resources sits in that exact spot with zero profit margin and a forward P/E of minus nineteen times. We pass because the ethical screen returns insufficient data and the business offers no proven moat or cash flow to judge.
The numbers reinforce the caution. A cyclical industry like precious metals and mining often shows low or negative earnings multiples precisely when prices peak, turning an apparently cheap valuation into a warning rather than a bargain. With only one analyst note and no financial ratios available for proper scrutiny, there is nothing solid to anchor a view.
Exploration success can vanish with metal prices, permitting delays, or local opposition, and the lack of any ethical data leaves further blind spots. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; its business and earnings are exposed to Switzerland and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SLSR trades on NYSE American (the company is based in Switzerland). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Markdown$6.55-7.5%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.5% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bearish. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
2026-10-25Markdown$7.08+9.9%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 9.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading oversold. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
2026-10-18Markdown$6.44-13.6%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 13.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
2026-10-02Markdown · changed$7.45-16.4%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 16.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 11.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 15.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
2026-07-18Markdown$9.38+0.0%Entry 3
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 29% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 90%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it buy, with a mean price target of $18.
2026-07-03Markdown$9.38+0.0%Entry 2
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markdown$9.38Entry 1
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
