Solitario Resources (NYSEAMERICAN:XPL) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.80 and traded as low as $0.7312. Solitario Resources shares last traded at $0.74, with a volume of 27,991 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $1.20 price objective on shares of Solitario Resources in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1.20.

Solitario Resources Stock Up 2.1%

The company has a fifty day simple moving average of $0.80 and a 200-day simple moving average of $0.80. The firm has a market cap of $71.48 million, a P/E ratio of -15.36 and a beta of 0.45.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). As a group, research analysts forecast that Solitario Resources Corp. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Solitario Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in shares of Solitario Resources in the third quarter worth $194,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Solitario Resources during the 3rd quarter valued at $35,000. Focused Wealth Management Inc lifted its stake 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 buying an additional 40,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Solitario Resources by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 650,751 shares of the basic materials company’s stock valued at $454,000 after buying an additional 55,958 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. bought a new position in Solitario Resources in the 4th quarter worth $130,000. Institutional investors own 18.23% of the company’s stock.

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.