Solitario Resources (NYSEAMERICAN:XPL) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.79 and traded as low as $0.76. Solitario Resources shares last traded at $0.7698, with a volume of 57,334 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $1.20 price target on shares of Solitario Resources in a research report on Wednesday, July 1st. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1.20.

Solitario Resources Stock Performance

The company’s 50 day moving average price is $0.81 and its 200-day moving average price is $0.79. The stock has a market cap of $71.65 million, a P/E ratio of -15.40 and a beta of 0.45.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). On average, analysts forecast that Solitario Resources Corp. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solitario Resources

Several institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Solitario Resources during the third quarter valued at approximately $35,000. XTX Topco Ltd boosted its position in Solitario Resources by 185.0% in the fourth quarter. XTX Topco Ltd now owns 53,018 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 34,415 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in Solitario Resources in the 4th quarter valued at $130,000. Citadel Advisors LLC bought a new position in Solitario Resources in the 3rd quarter valued at $194,000. Finally, Focused Wealth Management Inc increased its position in shares of Solitario Resources by 7.0% during the 4th quarter. Focused Wealth Management Inc now owns 610,900 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 40,000 shares during the last quarter. 18.23% of the stock is owned by institutional investors.

About Solitario Resources

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.