Short Interest in Solitario Resources Corp. (NYSEAMERICAN:XPL) Drops By 31.9%

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 124,598 shares, a drop of 31.9% from the March 15th total of 183,096 shares. Based on an average daily volume of 236,635 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the company are short sold.

Solitario Resources Price Performance

XPL traded up $0.01 during trading on Tuesday, hitting $0.90. The stock had a trading volume of 253,104 shares, compared to its average volume of 403,303. The company has a 50 day moving average price of $0.80 and a 200-day moving average price of $0.72. Solitario Resources has a one year low of $0.54 and a one year high of $0.98. The firm has a market cap of $82.62 million, a price-to-earnings ratio of -17.92 and a beta of 0.41.

Hedge Funds Weigh In On Solitario Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Solitario Resources in the 3rd quarter worth about $194,000. Total Wealth Planning & Management Inc. acquired a new position in shares of Solitario Resources during the 4th quarter worth approximately $130,000. Renaissance Technologies LLC increased its holdings in shares of Solitario Resources by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,295,706 shares of the basic materials company’s stock worth $903,000 after purchasing an additional 178,035 shares during the period. Geode Capital Management LLC increased its holdings in shares of Solitario Resources by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company’s stock worth $454,000 after purchasing an additional 55,958 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Solitario Resources in the third quarter valued at approximately $35,000. 18.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $1.20 target price on shares of Solitario Resources in a report on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1.20.

Solitario Resources Company Profile

Solitario Resources Corp. is a mineral exploration and development company focused on base and precious metals in the Americas. Headquartered in Englewood, Colorado, the firm targets copper, gold and silver through a combination of strategic acquisitions, grassroots exploration and joint-venture partnerships. Solitario’s work spans the full project life cycle from early-stage target generation and permitting through advanced stage resource definition and prefeasibility studies.

The company’s project portfolio includes a range of properties across North and South America.